IndieWire:

Netflix has announced it is reviving the popular Nickelodeon animated show “Avatar: The Last Airbender" as a live-action series. Original creators Michael DiMartino and Bryan Konietzko will serve as showrunners and executive producers of the live-action program, which is set to begin production in 2019.

Key quote from the PR which people should be excited about:

“We can’t wait to realize Aang’s world as cinematically as we always imagined it to be, and with a culturally appropriate, non-whitewashed cast," DiMartino and Konietzko said in a statement. “It’s a once-in-a-lifetime chance to build upon everyone’s great work on the original animated series and go even deeper into the characters, story, action, and world-building. Netflix is wholly dedicated to manifesting our vision for this retelling, and we’re incredibly grateful to be partnering with them."