Hugh Jackman is set to star in and produce the remake of the Broadway musical, Carousel for Fox 2000 and Jackson's Seed Productions.

The original film, starring Gordon MacRae and Shirley Jones, was released in 1956 by Fox. A deal is being negotiated with the Rodgers & Hammerstein Organization for rights to use the music and lyrics the duo wrote for the 1945 stage musical.

According to Variety, Jackman would play Billy Bigelow, a carnival barker whose temper puts him in the middle of a botched robbery and leads to his death. Stuck in purgatory, he's given one day to return and fix the problems he left behind - namely a teenager who has a lot of his rebellious traits.

Carousel has no production schedule as of yet.