I would like nothing more than for this to be true, but rumors about this have been floating (floating, hehe get it) around for years, with different names attached to production. The article you linked is a year old.

Last I heard, the producers wanted to do it as one movie and update the timeline of the story, having the "kid" half take place in the 80s and the "adult" half in present-day. I think taking this route would be a huge mistake. It should definitely be two films (if not an HBO miniseries or something) and should be rated R, so they don't have to pull any punches. Some of the best parts of the book never made it to the original made-for-TV film, and some scenes in the film were not even in the book. One thing they should retain from the original, however, is the score. That little three-note signature "IT" music was scary as hell, not to mention incredibly original.

And whatever happened to Ben Affleck directing the new THE STAND? I hope he hasn't backed off of such "low-brow" material due to his recent Oscar-winning success.

I wish this were true. I always felt like The Stand seemed a little bit older than the time it was filmed. Maybe it was the production quality. the casting in it though was perfect. Everyone seemed to fit. As for IT, that definitely needs a recast, for the adult roles. I felt the child roles were spot on.

_________________
I reject your reality and substitute my own. ~ Adam Savage - Mythbusters