I agree with Jeff that the "picturization" of the Mercury Theater on the Air shows is unnecessary. That does not mean, however, given the growing popularity of animation, that it won't be done. And the process may be commercially fairly successful.
It is hard to imagine now that in the 1930's and 1940's, tens of millions of people sat down after Sunday lunch or dinner (depending what time zone they were in) and LISTENED to radio. And they usually were not playing games or having loud conversations. They were gathered around that hypnotic RCA or Philco eye, enraptured.
Hard, too, to imagine that most people can recapture the immediacy today. [I recall that Jeff launched an exploration of Welles' radio shows, beginning with "Dracula," but it petered out after a few episodes because only a few of us contributed our impressions and insights] Perhaps, as dmolson observes, a modest million or so children (and a few adults) will buy the animated shows, and watch them while eating pizza, or bouncing on a trampoline. But, as he says, possibly a few of them will turn the picture to black and just listen to sound, the way creative kids put materials to odd uses. It might actually develop a CD or DVD Dual market for the programs.
[Whoops, I see GM has entered onto the field while I've been composing. Let me just say, that unless she is behind the franchise, we can't hang this one on Beatrice. And tweaking OTHELLO in a misguided and unsuccessful attempt to realize Welles' imagined intentions [or for that matter, the quite engrossing realization of TOUCH OF EVIL] is not the same as moving an entire art form from one stage to another.]
In any case, it obviously is going to happen. We'll just have to wait and see how it happens.
Radio, sadly, was raped and pillaged long ago.