Warner Bros' New Line set to adapt 'Wizard of Oz' novel into movie

Children now have a reason to rejoice as the classic novel 'The Wonderful Wizard of OZ' is heading to the big screen, Fox News confirmed.

According to the outlet, the original novel by L. Frank Baum was famously adapted to the screen for 1939's 'The Wizard of Oz' starring Judy Garland.

The upcoming movie will be a fresh take on the novel, which follows Dorothy and Toto after being swept away from their Kansas home in a cyclone.

'The Wizard of Oz' will be produced by New Line, which is owned by Warner Bros. The studio also owns the rights to the 1939 film. The crossover means that unlike other adaptations, the movie will be able to draw on famous elements like Dorothy's ruby slippers.

Nicole Kassell who helmed 'Watchmen,' 'The Woodsman' is set to direct the new project. Marc Platt will produce alongside Temple Hill's Marty Bowen and Wyck Godfrey.

Originally published in 1900, 'The Wonderful Wizard of Oz' novel was so popular that Baum followed the novel with 13 sequels.

Fox News reported, Darren Lemke wrote a previous draft of the screenplay, as did Neil Widener and Gavin James.

"I am incredibly honored to join Temple Hill and New Line in bringing this beloved classic to the screen," Kassell said.

"While 1939 musical is part of my DNA, I am exhilarated and humbled by the responsibility of re-imagining such a legendary tale."

She added: "The opportunity to examine the original themes--the quest for courage, love, wisdom and home-- feels more timely and urgent than ever. These are profoundly iconic shoes to fill, and I am eager to dance alongside these heroes of my childhood as we pave a newly minted yellow brick road!"

Fox News reported that the 1939's 'Wizard of Oz' earned two Oscars for its music. The iconic tune 'Over the Rainbow' earned an award as did the film's score.

The much-loved movie was also nominated for five other Oscars, including best picture. The star cast of the film also featured Frank Morgan and Billie Burke.

'The Wonderful Wizard of Oz' has been deemed 'America's greatest and best-loved home-grown fairy-tale' by the Library of Congress, Fox News reported.

( With inputs from ANI )