With the help of Jim Henson Co., Guillermo del Toro is developing a darker version of the Pinocchio fairy tale as a stop-motion feature.
According to Variety, the project will be produced by JHC co-toppers Brian Henson and Lisa Henson along with senior VP Jason Lust. Del Toro will exec produce.
Del Toro is working on the screenplay with Gris Grimly, who illustrated a 2002 version of Pinocchio. Grimly and Adam Parrish King will co-direct the film.
Del Toro said that it would take about three years to complete.
Pinocchio first appeared in the 19th century book "The Adventures of Pinocchio" by Carlo Collodi. Walt Disney produced the first feature version of the story with his animated Pinocchio in 1940.
Francis Ford Coppola tried producing Pinocchio in the early 1990s at Warner Bros., but the project stalled and led to his suit against the studio when he couldn't set it up at Columbia. A jury awarded Coppola $80 million in damages, but that figure was cut to $20 million when a trial judge tossed out the punitive damages.
No production date has been set.