Elizabeth Banks and Margot Robbie are set to adapt children’s book The Paper Bag Princess into a movie.
Following an intense bidding war between studios, Universal Pictures has landed rights to the story, which was written by Robert Munsch and illustrated by Michael Martchenko, and first published in 1980.
The tale centers on Princess Elizabeth, who in a resourceful and humorous fashion, finds and captures the dragon that has attacked her castle and kidnapped her beau. Reversing the damsel in distress stereotype, the book won critical acclaim from feminists, and has been reprinted 90 times and translated into multiple languages.
Set to be a live-action remake with a script penned by Katie Silberman, Variety now reports that the project will have a set of all-stars in the production team; Elizabeth and her husband Max Handelman will produce under their Brownstone Productions banner, Margot and her partner Tom Ackerley for LuckyChap Entertainment, as well as Bryan Unkeless and Dan Krech. Alison Small will oversee the film for Brownstone while Sara Scott will produce on behalf of Universal.
Elizabeth, who directed 2015’s Pitch Perfect 2, is also attached to helm the movie, while Margot may have an acting role.
With a strong heroine in The Paper Bag Princess, the story aligns with Elizabeth’s commitment to championing women’s stories and female-driven narratives. She is also working on a Charlie’s Angels remake and reprises her role as Gail in the upcoming Pitch Perfect 3, which is due to open in cinemas from 22 December.
While Margot will next be seen on-screen in I, Tonya a biopic about disgraced ice skater Tonya Harding, and is voicing a character in the new Peter Rabbit movie, which is slated for release in 2018.
The Australian star is also producing drama-thriller Terminal.