Back in March, Universal Pictures acquired the rights to the publishing sensation Fifty Shades of Grey, author E L James' hugely-popular erotica novel about a young woman's sexual awakening. Kelly Marcel signed on in October to write the screenplay, but there hasn't been much movement on the project since then.

Universal Studios chairman Adam Fogelson recently spoke about the development process, revealing they aren't in any rush to get this adaptation to the big screen.

"I certainly understand why some people might take that point of view. But I don't believe that [author E L James] had any interest in going to a studio where rushing it into production was the vision. I don't believe that the second or third film would have benefited from that strategy. And I think that there are totally legitimate questions about what this book is as a movie. I will tell you that it is an absolute priority for us. It's conceivable that we could be ready to release it as early as next summer."

There were rumors circulating that Angelina Jolie, director of the acclaimed drama In the Land of Blood and Honey, was being considered to direct, which was shut down by the Universal executive.

"No. We're involved in a different project [the World War II drama Unbroken: A World War II Story of Survival, Resilience, and Redemption] with her. But we have had really, really interesting, great conversations with talented, serious filmmakers."

Michael De Luca and Dana Brunetti are producing. No cast members have been attached yet, although Mila Kunis revealed she might be interested in playing Anastasia Steele, the young college student who strikes up a tawdry affair with wealthy businessman Christian Gray.