Joe Wright is currently in negotiations to direct PAN, and now the first casting news for the film has landed. Deadline is reporting Javier Bardem has been approached to play Backbeard in the planned movie. Peter Pan and the natives will be rebelling against evil pirates in PAN, and it looks like their leader will be Blackbeard, not Captain Hook, in the new film.
Blackbeard and Captain Hook are slightly connected though. Hook has been described as a boatswain to Blackbeard, but did deny knowing him in the novel Peter Pan in Scarlet. This is based off of information from Wikipedia and I'm not that familiar with the books, so I can't vouch for how accurate it is, however it doesn't sound like Warner Bros. is just throwing Blackbeard in PAN for no reason.
But why would Warner Bros. go with Blackbeard as the villain when almost everyone always associates Captain Hook as Peter Pan's antagonist? If Warner Bros. is thinking about starting a franchise with PAN, I guess Captain Hook could still be in it, but not as the captain, and could appear in future films. Javier Bardem can obviously play a great villain and will make an awesome Blackbeard, but I'm just a little confused as to why the character is being used in PAN.