As we’ve been reporting for many months, Guillermo del Toro is looking to make his own version of Beauty and the Beast. Today Variety reports that the movie is a go and Emma Watson is in final talks to star as Belle in the film! We will post as soon as any new information is revealed. According to the article:

Guillermo del Toro will direct “Beast,” a new take on the “Beauty and the Beast” tale that Warners has tapped “Bridget Jones’s Diary” scribe Andrew Davies to write. WB’s “Harry Potter” star Emma Watson is in final negotiations to topline the period pic. Del Toro was originally on board just to produce.

DiNovi Pictures’ Denise Di Novi and Alison Greenspan will produce with del Toro, who plans to write a treatment from which Davies will work. Del Toro, who’s currently filming “Pacific Rim” for WB and Legendary Pictures, is credited as a co-writer on both of WB’s upcoming “Hobbit” movies.