As it turned out, Paramount did a press release that clears up the name problem and gives us a release date all at the same time. It looks like they’re banking on Shyamalan’s vision no matter what The Happening ends up doing this summer. You can check out the full press release below:

Paramount Pictures and Nickelodeon Movies have greenlit the live-action epic adventure “M. Night Shymalan’s The Last Airbender,” which will launch over the Independence Day weekend in 2010, opening Friday, July 2, 2010.

Shyamalan, the visionary creator of the Oscar nominated “The Sixth Sense,” “Signs,” and the upcoming “The Happening,” will direct and produce the epic action-adventure based on a script that he penned. Joining him as producers are Kathleen kennedy and Frank Marshall, who produced the blockbuster “Indiana Jones” and “Jurassic Park” franchises, Sam Mercer (“The Sixth Sense,” “The Happening”) and Scott Aversano(“Failure to Launch,” “The School of Rock”), Michael DiMartino & Bryan Konietzko, the creators of the popular TV series “Avatar: The Last Airbender,” that inspired the film, will serve as executive producers.

“I was drawn to the series because of its influences: one being Hayao Miyazaki, said Shyamalan. “I’ve always been a huge fan of Miyazaki’s work. He is one of the greatest storytellers in the world and makes anime films in Japan. His combination of spirituality and super natural elements have brought depth and meaning to his art form. In “The Last Airbender,’ I see an opportunity to make a live-action version of a Miyazaki film.”

“We’re delighted to be partnering with Nickelodeon to bring M. Night Shyamalan’s vision of “The Last Airbender” to the big screen and to audiences of all ages,” said John Lesher, President, Paramount Film Group.

“M. Night Shyamalan’s exciting vision for a film with the potential of ‘The Last Airbender,’ is another perfect fit for the Fourth of July holiday weekend that we have used to launch such blockbusters as ‘War of the Worlds’ and ‘Transformers,’” said Rob Moore, Vice Chairman, Paramount Pictures.

Based on the hugely successful Nickelodeon animated TV series, the live-action feature film is set in a world where human civilization is divided into four nations: Water, Earth, Air and Fire.

The Fire Nation is waging a ruthless, oppressive war against the other three nations. The film’s hero, the reluctant young Aang, is the “Last Airbender” – the Avatar who, according to prophecy, has the ability to manipulate all of the elements and bring all the nations together. Aided by a protective teenage Waterbender named Katara and her bull-headed brother Sokka, Aang proceeds on a perilous journey to restore balance to their war-torn world.

“M. Night Shyamalan’s The Last Airbender” promises to be a summer movie for the ages, combining the imagination and visual canvas of the “Lord of the Rings” saga with the action and spectacle of “Crouching Tiger, Hidden Dragon.”

Yes, this ridiculous phrase that will forever haunt us (and Jim Halpert) was first heard 10 years ago today, when Titanic was released to the world and made enough money to buy a few small countries.

Hearing things like this are starting to make me feel old. 10 years ago already?

I wanted to bring this up because it’s fascinating to me who liked and didn’t like this movie. I personally loved it and I thought it was an amazing feat to take a story everyone already knew about and turn it into a great love story with a ton of nail-biting moments once the ship starts sinking.

You have to admit, even for the dudes out there who hate Leonardo Dicaprio and the mushy love scenes, the second the iceberg hit the ship, the movie got really, really intense.

It won 11 Oscars, including Best Picture and sits as #1 on the list of highest grossing films with $600 million made in the U.S.

So do you care that it’s been 10 years? Did you love it or hate it?