Take heart, "ElfQuest" fanatics - a film adaptation may still be on the way.

Producers Stephanie Thorpe and Paula Rhodes, both of whom produced the 2011 live-action short "ElfQuest: A Fan Imagining," have acquired movie rights to the cult-favorite comic-book series, according to Variety. The duo made the announcement today at the American Film Market.

"With their deep love and understanding of the property, [Stephanie and Paula] represent a new direction for 'ElfQuest'...new creative energy and new connections in the larger media," said Wendy Pini, who co-created the series with her husband Richard in 1978.

Warner Bros. announced plans to make an "ElfQuest" movie back in 2008, but they decided not to move forward with the project earlier this year, allowing Thorpe and Rhodes to step in.

"ElfQuest," published between 1978 and 2003 by the Pinis' own WaRP Graphics imprint and from 2003-2007 by DC Comics, centers on several tribes of elves who live alongside humans and other fictional species on an Earth-like planet with two moons. The series' latest chapter, "Final Quest," is currently running exclusively on Boing Boing.net.

Any "ElfQuest" fans out there hoping to see a feature film sometime in the future? Sound off below.