Yup. According to Deadline, Sabrina the Teenage Witch is being reformatted for a live action film where she will be depicted in the light of a superhero.
The live action film will be an origin story in the vein of Spider-Man, about a young girl coming to terms with her remarkable powers. ~Deadline
Don Murphy and Susan Montford (Real Steel) will be producing the movie and the script writers will include Andrew Barrer and Gabriel Ferrari.
The orginial Sabrina the Teenage Witch story was actually a comic book from the Archie line by George Gladir and Dan DeCarlo. Sabrina Spellman made her first appearance in the sixties, but her spotlighted comic ran from 1971-1983. This series has spawned paperback novels, other comics (manga-inspired), and animated series, a made-for-tv movie, and most notalbly the live action tv series beginning in 1996 starring Melissa Joan Heart.
The tone of this new version is supposed to come out a little edgier, but they are at least keeping the talking black cat, Salem – sorta. Salem in this version is not a cursed warlock stuck in a cat’s body, “…he is a transformed prince creating unique love stories for Sabrina.”