From Variety.com (the second to last paragraph):
Scribe James V. Hart, who recently adapted Clive Cussler’s bestselling novel “Sahara” for ParPar and Baldwin Entertainment, also is adapting Ayn Rand’s “Atlas Shrugged” for Baldwin Entertainment.
And, from a May 3, 2004 Atlasphere posting, the The Atlas Society wrote:
The Atlas Society received a note just two days ago from the Baldwin Entertainment Group. This is the company that is now producing the Atlas Shrugged movie (Howard Baldwin founded the company after the shakeup at Crusader). This is what he says: “…everything is on track and [the movie] hasn?t been held up one bit…. I assure you that this will be a big movie and IT WILL GET MADE.”
Of course, there have been many attempted projects in the past, but this is the same group that produced the movie Ray, and so one can hope for a successful outcome this time around!