It is apparently half-live-action, and stars John Cena. According to comicbook.com (what does this have to do with comic books?):
In Coyote vs. Acme, after every ACME Corporation product backfired on Wile E. Coyote, in his pursuit of the Road Runner, he hires an equally-unlucky human attorney to sue the company. When Wile E.'s lawyer finds out that his former law firm's intimidating boss is ACME's CEO, he teams up with Wile E. to win the court case against him.
The film is said to be based on the fictional The New Yorker article "Coyote v. Acme" by author Ian Frazier. Published in 1990, the piece imagined a lawsuit brought about by Wile E. Coyote against the Acme Company who provided him with various devices and tools to aid his pursuit of Road Runner. The devices frequently malfunctioned, leading to the humorous failures, injuries, and sight gags Road Runner cartoons are known for.
It has already been rated (PG), so a release date will be very soon.
I can not imagine this will be any good. I avoided Space Jam: New Legacy and it's supposed to suck (I'm mixed on the original). But I'm more concerned because most of the revivals of the last ten years have been terrible.
But here's the thing: if it's going to be at least an hour-and-a-half, will it be Wile E. miming the whole time? Will they have a neo-Blanc intellectual voice? And will the Road Runner even be in it?
A bet: a free pizza that it doesn't come out!