One day it will and it will probably be some overly computer generated movie that is lifeless and has no dimension or character to it. It will probably star some mainstream actor like Tom Cruise or Will Smith that will suck the life out of it and make it bland.
Guillermo Del Toro has been trying for years to get H.P. Lovecraft's At the Mountains of Madness made into a feature film but like every other potential Guillermo Del Toro project it takes a long time to come into fruition. We can keep our fingers cross and hope for the best but with movies in the state they are in, Hollywood will take whatever they can get.
The novella by H.P. Lovecraft will be made into a film since it presents the story of an epic adventure to the Antarctic in the science fiction genre. It lends itself to a action heroic tale that would appeal to young audiences. There are aliens in the story as well as uncovering clues from the past and a warning of a future disaster.
"At the Mountains of Madness" is a great script, with in -depth characters and many plot twists. The media of today is diversified. Most people don't just see four channels. Instead, they see 100 channels. There will always be a network looking for new materials, and one of them will pick up Lovecraft's novel at some point.