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http://www.411mania.com/movies/news/224350/Guillermo Del Toro is set to direct Beauty and the Beast. Variety reports that Del Toro is taking the directors chair on the film, which he was already set to produce, and that Emma Watson will star in the film.
The script was written by Andrew Davies (The Three Musketeers). Details on the exact take it will provide to the famous story are not currently known.
My favorite farytale romance being directed by a director who's known for making truly amazing visuals and storytelling.