New Looney Tunes in the Works?

Though most of the suggested are simply rumors and speculation, it seems that Warner Bros Animation is in the process of developing a brand-new television series featuring the Looney Tunes.I first spotted the news over at Golden Age Cartoons on this thread:
http://forums.goldenagecartoons.com/showthread.php?t=13202
By following the link above, you can follow it too the original Daffy Duck layout drawing that's posted on cartoonist/animator Jim Smith's blog.
http://jimsmithcartoons.blogspot.com/
According to one member who happens to be a professional animation writer, the series is being written by an improv group called the Groundlings. I'm not sure if that's a good idea if it's true. Comedians writing cartoons? Sure they might know jokes, but can they time an animation gag with printed words?