Here are some links for places to go to learn about your subject matter for your group project:
Group #1: Live-Action ReMake of "The Wizard of Oz"
I suggest reading some of L. Frank Baum's other stories. He depicted Oz as "real", not as a dream-place like in the original movie. Perhaps you could go darker? Weirder?
All 14 of the books are here, and free to read because they are in the public domain:
Group #2: Animated Feature Film based on Irish Mythology
You guys can choose between the story(ies) of CuChulain OR Lugh and his battle with Balor, King of the Fomorians
Group #3: Video Game based on the "Popol Vuh" - MAYAN Creation Myth
I suggest reading the stories about Hunahpu and Xbalanque - the twin brothers and their adventures fighting 7 Macaw and their trials in the houses of the Underworld (starting around page 80):
Group #4: Television Series based on 1001 Arabian Nights
I suggest choosing a few stories that you would like to focus on as a group - maybe find a narrative thread between them, or choose ONE story (like "Ali Baba and the Forty Thieves" or "The Seven Voyages of Sinbad the Sailor",), and weave in elements from other stories. Remember, you aren't responsible for writing a script - just creating a world that a narrative could exist in. Start here, read through the whole wikipedia article, and start picking out elements your team is excited about: