"The company that was developing the movie with us, Walden, went out of business essentially. They're no longer making movies. So we've taken it ourselves and we're trying to get it set up someplace else but we're still very interested in making it. Houdini is in the movie in flashback. It kind of posits a story where Houdini and Bess had a child that they hid from the world. We're talking about a kid who's 18 who's the great great grandchild of Houdini who has the master's gifts. He doesn't know where it came from but it's him discovering that he has a legacy."
The article reports that Walden Media "ceased funding its own productions last year" and this "left The Houdini Inheritance in limbo." Although looking at Walden's official website, it's clear the company is still in business.