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The first trailer for Disney's Oz the Great and Powerful, which serves as a prequel to The Wizard of Oz, debuted online this morning. From this first look we can tell that the opening of the movie will harken back to the black-and-white opening scenes in the Judy Garland movie before we arrive in the full-color and digitally created world of Oz. Certain effects seem to follow the same style as the ones found in the classic Wizard of Oz movie, such as the arrival of the wicked witch in the smoke and flames that comes at the trailer's conclusion.

As part of their marketing buzz for their presentation at this week's San Diego Comic Con, Disney has released the first teaser trailer for Oz the Great and Powerful:

This teaser poster for Oz the Great and Powerful just landed, and it certainly sets the imagery for a stormy return to the emerald land.

Filming started on Oz the Great and Powerful yesterday, July 25, in Raleigh Studios located in Pontiac, Michigan. As part of the announcement, the studio also revealed the name of James Franco's magician (Oscar Diggs); that Zach Braff will also be lending his voice to a CG character named Finley, who is a "winged monkey who accompanies the magician on his journey"'; and 12-year-old actress Joey King (Ramona and Beezus) will play another CG-created character named China Girl.

Here is how Disney described the movie's premise:

"Oz The Great and Powerful imagines the origins of L. Frank Baum’s beloved character, the Wizard of Oz. When Oscar Diggs (James Franco), a small-time circus magician with dubious ethics, is hurled away from dusty Kansas to the vibrant Land of Oz, he thinks he’s hit the jackpot—fame and fortune are his for the taking—that is until he meets three witches, Theodora (Mila Kunis), Evanora (Rachel Weisz) and Glinda (Michelle Williams), who are not convinced he is the great wizard everyone’s been expecting. Reluctantly drawn into the epic problems facing the Land of Oz and its inhabitants, Oscar must find out who is good and who is evil before it is too late. Putting his magical arts to use through illusion, ingenuity—and even a bit of wizardry—Oscar transforms himself not only into the great and powerful Wizard of Oz but into a better man as well."

Mad Men cast member Abigail Breslin has landed a part in Oz, the Great and Powerful. She'll play a woman who volunteers to be the subject of the magician who eventually becomes Oz. Breslin's scenes will take place in Kansas before James Franco's character makes the unexpected journey to the enchanted land.

Scrubs star Zach Braff has been cast in the film. He'll play the assistant to James Franco's travelling salesman that eventually creates the persona of the powerful wizard of Oz.

Rachel Weisz is in negotiations to play the Wicked Witch. Weisz, who won an Oscar for The Constant Gardner, would play the villainous Evanora, who plans to take over Oz. Part of that plan involves turning her more virtuous sister Theodora (Mila Kunis) to Evanora's evil ways. It is presumably this plot that snake oil salesman  (James Franco) stumbles into when his balloon is blown off course and he lands in the magical land.

The Disney pseudo-prequel to the 1939 classic The Wizard of Oz is the biggest film that Weisz has worked on.

Walt Disney Pictures has officially confirmed that James Franco and Mila Kunis have been cast in Oz, the Great and Powerful. Franco will indeed play the magician that has his balloon blown into the magical land of Oz while Kunis will play Theodora, Oz's Witch of the East and sister to the Wicked Witch of the West.

Mila Kunis is the frontrunner to play the role of the future Wicked Witch of the West in Oz the Great and Powerful. The Book of Eli and Black Swan actress would play the villainess before she became the Witch of the West and was known as Theodorah, the younger sister to Evanorah (the witch that eventually finds herself smushed underneath Dorothy's house.)

Kunis had been considered for the lead female role in Akira but a kink in the development of that film, plus a good meeting with Oz director Sam Raimi and star James Franco, has now moved Kunis to their picture.

Disney is now in talks with Johnny Depp to play Oz the Great and Powerful because Robert Downey Jr. has moved on to other greener pastures. The Iron Man actor made the decision to exit Oz, leaving the studio in a lurch. Disney turned to Depp, whom is a favored son with the Mouse House after making lots of money for them with three Pirates of the Caribbean movies (and a fourth coming out later this year) and the latest Alice in Wonderland movie. But if Depp agrees to make Oz first (right after he stars in Dark Shadows for pal Tim Burton), then the slowly cooking Lone Ranger movie will likely get pushed back into 2012. Will director Gore Verbinski wait for Depp to play Tonto in Lone Ranger?

Rumor has it that Sam Mendes (Jarhead, American Beauty) is interested in taking the job to direct Oz the Great and Powerful for Disney. Furthermore, the other juicy rumor is that Iron Man star Robert Downey Jr. is thinking of playing the circusman-turned-wizard of Oz. [Full story]

Sam Raimi has been signed to direct Oz the Great and Powerful for Walt Disney Pictures, reports Deadline. The deal was struck last night. Now the plan is to develop the script into a story that will get Robert Downey Jr. to sign on the dotted line.