According to Xenophon over at the Official Robotech Forums. Kevin McKeever stated at A-Kon in Dallas that "absolutely nothing has happened" with the movie other than WB and Tobey MacGuire's production company having acquired the rights.

First off RELAX, before you shrug your shoulders in bitter disappointment and switch to flashbacks of nothingness of some 20 odd years, just bear with us a moment as we dissect this with caution.

"Yesterday Kevin Mckeever spoke at A-Kon in Dallas. I was there in the room and he stated that at this point, absolutely nothing has happened with the movie other than that WB and Tobey Macguire's production company have acquired the rights. All that means is that they they now have the option of making the movie. To quote him "There is no script. There is no director. There are no actor. There is no budget" etc. There is no movie whatsoever as of this time. That does not mean that some guy in WB somewhere is not doing something to make these things happen, but I'd guess you'd have to get some sources over at WB to find that out. I asked him what rights they'd gotten and he basically said everything. They can make a film set in any time period about any subject whatsoever. He said "They can make a film about the Dana Barbie dolls if they want" by way of example. So this film we're talking about could be just about anything. Furthermore, it sounds like it's pretty flexible as to how WB "interprets" the canon.

McKeever also said that the next animated film is "on hiatus" because WB doesn't want what HG is making to get in the way of the live-action. So the live-action has to come first before we see The Shadow Rising film. Suck. However, he did say production had started, but then he said how far it had gotten was classified. The movie definitely will happen (provided WB doesn't just keep stalling for 10 years or something).

Anyway it was really cool, and everybody who asked a question got a prize. He gave out some original cells from Robotech (not copies, not replicas, the real thing), some Robotech polo shirts, and some Veritechs (can't remember what model though). "

The quick facts according to McKeever:

• Nothing has been done except the acquisition of Robotech rights by WB and Tobey MacGuire's Production company. NOTHING AT ALL.
• Shadow Rising will be on "hiatus" because WB doesn't want it to get in the way of the live-action.

Alright, now that we have the facts straight. Lets look at it closer. Sure, as expected there has not been whole lot going on with the Live-Action film since it was just announced a few months ago. this is normal production process. No scripts, directors or casts yet, fine. Its more like an idea at this point. An idea that has been sealed deal with the rights acquisition. So needless to say, this will happen in a few years. Thats the good news.

The bit of sad news is that the next animated feature Shadow Rising will be post-poned or on "hiatus" until all the Live-Action production gets settled. If you really think about it, this makes perfect sense. There is no point in releasing two features which by doing so could compromise the quality of the finished product. Its always best to take it one step at a time. In the end this is the best way to go.

So yes, you will have to wait some more, but I am sure that it will be worth the wait.