20th Century Fox is gearing up to remake the 1967 cult classic Valley of the Dolls, with the studio eyeing actresses such as Madonna, Jennifer Lawrence, Anne Hathaway and Emmy Rossum for starring roles.

The original movie, based on Jacqueline Susann's novel, starred Barbara Parkins, Patty Duke and Sharon Tate as starlets Anne Welles, Neely O'Hara and Jennifer North, with the story charting their rise and fall in the movie and theater industry. The remake, which is being written by Paul Rudnick (The First Wive's Club, In & Out), is centered on the modern-day music business in Hollywood, particularly centering on Neely O'Hara's fall from grace. The remake is being conceived as a dark comedy.

Madonna is being courted to play Broadway star Helen Lawson, a role originally portrayed by Susan Hayward which was initially intended for Judy Garland. Jennifer Lawrence is being eyed to play Jennifer North, Anne Hathaway is in contention to play Anne Welles and Emmy Rossum is up for the Neely O'Hara role.

The project doesn't have a director attached at this time, and it isn't known if formal offers have been issued to these actresses yet or not.