Sofia Coppola ("Lost in Translation," "Marie Antoinette") is in negotiations to direct a live action version of the classic Hans Christian Anderson fairy tale "The Little Mermaid" at Universal Pictures and Working Title.
The story deals with a mermaid willing to make a Faustian bargain to live on land after she falls in love. Joe Wright was attached to direct the project at one time, he's now committed to "Pan".
Caroline Thompson ("Edward Scissorhands") is currently rewriting previous script drafts by Kelly Marcel and Abi Morgan. The plan is to reportedly get moving on the project quickly.