This is it folks, the biggest comic book news since Disney bought Marvel.

Today via The Source Blog DC Comics announced it is relaunching their entire line of Superhero titles and will be the first of the “Big Two” (DC and Marvel) to publish same day releases of their digital and print comics. These changes will spin out of DC’s summer event Flashpoint ending on August 31st with only two issues being released on that date: Flashpoint #5 and the newly announced Justice League #1 by Geoff Johns and Jim Lee. After August 31st expect an onslaught of new books as DC will continue to release fifty-two new issue #1s. As far as what this means to our rebooted characters and timelines DC Comics’ Dan DiDio was quoted as saying that the reboot would give them “…a chance to start, not at the beginning, but at a point where our characters are younger and the stories are being told for today’s audience.” In an industry often stagnant and stuck in its ways I for one salute DC for making a bold and daring move forward but only time will tell if this gamble will pay off.

Read the full press release and sound off in the comments after the break.

Dane and William review the week’s new releases including Superboy #6, Infinite Vacation #2, and The Flash #10.

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Due to the popularity of the footage shown at the WonderCon panel last night, Warner Bros. has released four minutes worth of footage for their upcoming release of Green Lantern. The original footage was around ten minutes, but this online footage has been shortened down. There’s plenty of things to get excited about in the trailer, including some much improved CGI. Look for Dane and I’s thoughts on it soon, but until then we’ve placed the footage after the break for those looking to avoid spoilers.

Green Lantern, directed by Martin Campbell, will hit theaters on June 17, 2011 and stars Ryan Reynolds, Blake Lively, Peter Sarsgaard, Mark Strong, Angela Bassett and Geoffrey Rush.

As the DC Universe gears up for their next epic event, DC’s The Source blog has provided a stream of weekly content teasing the upcoming events of Flashpoint. As the weeks progress leading up to the event, The Source is devoting all of their Friday content to Flashpoint for ‘Flashpoint Fridays’ and we’ve got a round up for all of today’s news. We’ve got teasers and spoilers abound, so hit the jump for more details.

Howdy folks! Our coverage of the DC Nation: Event Horizon panel will be starting soon. Hopefully we’ll get some good announcements from today’s panel! Appearing at today’s panel are Dan DiDio, Jim Lee, J. Michael Straczynski, Grant Morrison, and Geoff Johns. Hit the jump for our full recap!