Accoridng to Variety, Walt Disney Pictures has pacted with Philip Anschutz's Walden Media to produce Bridge to Terabithia, based on Katherine Paterson's Newberry Medal-winning children's novel.

Disney comes aboard as co-financier and U.S. distributor. Walden keeps international rights.

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Walden acquired rights to the 1977 book more than three years ago and brought the project to Fox when it signed a slate deal in summer 2004. Walden approached Disney after reaching a mutual agreement with Fox that the project should not go forward there.

Disney and Walden are moving quickly on the pic, with production skedded for February in New Zealand. They are aiming for a spring 2007 release.

Gabor Csupo, co-founder of toon shop Klasky/Csupo and director of Rugrats Go Wild!, will make his live-action helming debut on the pic. Jeff Stockwell is penning the screenplay.