Disney obviously hopes that lightning can strike twice, as Deadline.com is reporting that hey've hired Raimi to take on the director's chair for their upcoming Oz: The Great And Powerful, a prequel to the original Wizard of Oz film that tells the tale of how, precisely, Oz managed to find himself transported to the Emerald City. They're looking to build the film around the presence of Robert Downey, Jr. which, hey, might be alright. If there's a film that doesn't really need a sequel/prequel, it's probably The Wizard of Oz, but after Alice in Wonderland's billion-dollar performance at the box office, it wouldn't be too big of a surprise to see Disney start ramping up live-action versions of Snow White, Bambi , The Sword In The Stone, etc.
And hey, you know which movie page could use some filling-out? Go check out the task I just put in for The Wizard of Oz and get yourself some points!