Apparently Universal has bought the film rights to the Wheel of Time series. Granted, just because the acquired the rights doesn't mean that they are going to option it, but with the popularity of fantasy novels being turned into movies right now, it may be a no-brainer to at least make the first one and see how it does.
If it is a success, they then have enough books to make movies for the next couple of decades. Granted, they may have to recast a few times, but if James Bond can do it, why can't they?
I do have to admit it must seem like a daunting task to adapt these novels to any potential director and screenwriter. But if the Lord of the Rings movies have taught me one thing, its never say never. The right director with a proper love and respect for the source material might be able to make this into the biggest hit Universal has ever seen!
Or they could cast a Wayan's brother to play Mat. It really is kind of a crapshoot.