The Kennedy/Marshall Co. and Leonardo DiCaprio's Appian Way are discussing with Warner Bros. the possibility of a fourth NEVERENDING STORY film, according to the trades.
THE HOLLYWOOD REPORTER says the studio recently bought the rights to the property and is looking at a new film in the 25-year-old franchise.
Original producer Dieter Geissler is set to produce the reboot with Sarah Schechter and Jesse Ehrman overseeing at WB in what is said to be a more nuanced take on the source material.
The original 1984 film, directed by Wolfgang Petersen grossed $20 million but had a long home video shelf life and inspired present-day children's fantasies like HARRY POTTER. The second, from director George Miller, came out in 1990 and earned $17 million, a 1996 third film went to video soon after its theatrical release.
Writers are not attached at this point, and the project is in its early stages. Warner Bros. is looking to add a first-generation children's fantasy to its roster, especially when the HARRY POTTER series has earned more than $4.5 billion worldwide with three more films yet to come out.
DiCaprio is also developing a live-action take on the anime tale AKIRA.