Flash Gordon Remake News

What ever happened to the proposed Flash Gordon remake? Here is what Matthew Vaughn had to say

"Yeah, we've been working on it. For me, the only problem with Flash Gordon is Guardians [of the Galaxy] kind of stole what I would have liked to have done with it. You've got Star Wars, you've got Guardians, so you've got to have your own space opera, but you have to find something that can survive among these two very, very great franchises"

Will it ever happen, we will keep you updated.