UPDATE 7/30/2013 10:14 AM PT: According to The Hollywood Reporter, the CW's president Mark Pedowitz has announced at the Television Critic's Association summer press tour that the network is indeed fast-tracking a "Flash" drama featuring the Barry Allen version of the scarlet speedster. "Arrow" co-producers Greg Berlanti and Andrew Kreisberg will introduce the character during the second season of "Arrow."
"We plan to introduce the recurring character of Barry Allen who is the Flash," Pedowitz said during the TCA press tour. "We're planning an origin story and we'll see how it goes. We do want to expand on DC Universe, and we felt this is a very organic way to get there."
THR also reports that "Amazon," the in-development drama featuring a Wonder Woman origin, is currently on hold as the network shifts its priority to "Flash."
According to Deadline, "Arrow" co-creators Greg Berlanti and Andrew Kreisberg are developing the project, with an eye toward introducing the DC Comics speedster during the hit drama's upcoming second season. The "Flash" pilot reportedly will be written by Berlanti, Kreisberg and DC Entertainment Chief Creative Officer Geoff Johns, who has penned episodes of "Smallville" and "Arrow," and directed by David Nutter.
Considering the relatively grounded approach to "Arrow," it might be difficult to imagine the two heroes inhabiting the same universe. However, "Arrow" star Stephen Amell may have signaled the arrival of The Flash at Comic-Con International when he was asked which DC character he'd like to see on the series. "The Flash," the actor said immediately. "The Flash is cool. I think he could be done in a cool way."
Although Deadline contends expanding the DC "footprint" on The CW has been a priority for the network and corporate sibling Warner Bros. Television, they've had limited success beyond "Smallville," which went off the air in 2011. While "Arrow" was a breakout hit last season, a planned adaptation of Wonder Woman, called "Amazon," didn't receive a pilot order, and announced projects based on The Spectre, Raven and the adventures of Dick Grayson before he became Robin never materialized. "Human Target," loosely based on the character created by Len Wein and Carmine Infantino, was canceled in 2011 after two seasons.
If "The Flash" makes it to air, it would mark the second live-action TV series for the character, who's also rumored to be heading to the big screen in 2015: A drama, developed by Danny Bilson and Paul De Meo and starring John Wesley Shipp aired for one season from 1990 to 1991 on CBS.