We reported back in December that Spielberg had acquired the rights to Michael Morpurgo's novel and now it seems that he will direct the film and that DreamWorks has set an August 10, 2011 release date for the film. Here's a plot description for Morpurgo's novel.
In 1914, Joey, a beautiful bay-red foal with a distinctive cross on his nose, is sold to the army and thrust into the midst of the war on the Western Front. With his officer, he charges toward the enemy, witnessing the horror of the battles in France. But even in the desolation of the trenches, Joey's courage touches the soldiers around him and he is able to find warmth and hope. But his heart aches for Albert, the farmer's son he left behind. Will he ever see his true master again?