Director Jon Favreau is in negotiations with Disney to make a live-action reboot of Rudyard Kipling's The Jungle Book. We first reported on the project in July, when Disney moved forward with a screenplay by Justin Marks (20,000 Leagues Under the Sea: Captain Nemo).

Here's what Jon Favreau had to say in a brief statement.

I can't say that much, but there is an interesting take that could be very cool, and the hope is to relaunch a family brand with certain mythic elements. It is my first real family film since Elf, and there are action elements and visual effects that I feel like my experience on the Iron Man films are going to be useful."

The original Rudyard Kipling novel was published in 1894, which followed a young orphaned boy who is raised in the jungle by a bear, a black panther, and a pack of wolves. The novel is now in the public domain. The book was the basis for Disney's 1967 animated classic The Jungle Book, along with director Stephen Sommers' live-action The Jungle Book from 1994.