It seems quite true.
The Rocketeer has much love here at The Realm Cast. It’s truly been an under appreciated gem for years. See, back in 1991 when The Rocketeer came out it wasn’t a hit like many of the superhero films of today are. In fact, it was a bit of a bomb. Director Joe Johnston would go on to be vindicated, ironically by Disney in the long run, with Captain America: The First Avenger.
But if you know the story of the Rocketeer, it suffered from budget cuts and such. Johnston had high ambitions for The Rocketeer, and they were never fully realized. It appears that Alan Horn, the new head of Disney Studios, wants to see them through now. Horn is reportedly working on resurrecting the Rocketeer (Disney apparently still has the movie rights) for the studio. The idea is that instead of leaning on the acquisitions, why not use what they already own.
In the day and age of Iron Man, I think that The Rocketeer deserves another go. Let’s be honest, it’s not like a lot of people saw it the first time (even though it featured a very spry Jennifer Connolly), and Dave Steven’s creation could use another go at it. Just a matter of who to handle it? I’d say let Joe Johnston go at it again with the budget he needed, but it’s a matter of whether or not he’s interested this time around.