Netflix has optioned DC's The Sandman as a live-action show, according to The Hollywood Reporter. Allan Heinberg has reportedly signed on as showrunner/chief writer, with Neil Gaiman and David S. Goyer onboard as executive producers. This movie would follow Netflix taking over Fox's Lucifer, which itself was a spin-off of the Sandman comic book series.
The Hollywood trade cites sources who say this Sandman TV show would be DC's "most-expensive TV foray ever," and one that DC's sister company HBO (under the Warner Media umbrella) passed on. It reportedly wasn't in consideration for Warner Media's planned streaming service, as selling it to a third party such as Netflix would bring in additional revenue upfront than internally.
The Sandman has been in development as a TV show or a movie on multiple occasions going back to the mid 1990s.
No production timetable for The Sandman has been given.