New 'Wizard of Oz' movie adaptation set at Warner Bros.' New Line

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A new adaptation of the classic children's novel "The Wonderful Wizard of Oz" is heading to the big screen, Fox News can confirm.

L. Frank Baum's original novel 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 flick 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.

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Nicole Kassell ("Watchmen," "The Woodsman") is set to direct. Marc Platt will produce alongside Temple Hill's Marty Bowen and Wyck Godfrey.

A new adaptation of 'The Wonderful Wizard of Oz' is in the works at New Line. (Photo by Silver Screen Collection/Getty Images)

"The Wonderful Wizard of Oz" was originally published in 1900 and was so popular that Baum followed the novel with 13 sequels.

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

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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!"

Filmmaker Nicole Kassell will helm the project. (Photo by Rachel Luna/WireImage)

Fox News has reached out to reps for Kassell and Warner Bros. for comment.

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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 picture was also nominated for five other Oscars, including best picture. Frank Morgan and Billie Burke also starred.

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"The Wonderful Wizard of Oz" has been deemed "America's greatest and best-loved homegrown fairytale" by the Library of Congress.