Her cup size isn't that big for CJ. lol
I posted this a while back saying that they're going to use the 90's characters:
http://forums.superherohype.com/showpost.php?p=32304635&postcount=180
It said Dwayne Johnson's playing Mitch. Not to mention in the D23 interview the Rock had talking about Baywatch, he was talking about the casting status and process as well as the challenge of looking for the new CJ Parker. Sure it could mean the person filling the role/niche with a different name but I have a feeling that they could more likely go the nostalgic route like what Power Rangers did and use the iconic names.
If the article from comicbook.com is anything to go by, I'm thinking the girls mentioned (Benson, Daddario, Dobrev etc) are all auditioning for this part which seems like it has little more talent needed:
There's still the CJ part which would be perfect for a Kate Upton type as it seems like not much is needed and then there's Stephanie Holden rounding out the women.