Hot on heels of the massive success of "Oz: The Great and Powerful", Disney is now reportedly looking to develop a new reimagining of another classic story "Beauty and the Beast". The studio giant is in talks with "Trance" scriptwriter Joe Ahearne for the project.

As AceShowbiz revealed citing Deadline, Disney tentatively refers to the project simply as "The Beast". It's expected to be a live action 3D with dark story, considering the thrilling plot Ahearne penned for the Danny Boyle-directed drama starring James McAvoy and Rosario Dawson.

Mandeville's David Hoberman and Todd Lieberman will serve as producers for the upcoming movie, and Disney's LouAnne Brickhouse will steer the project. No cast has been announced so far.

This weekend, "Oz: The Great and Powerful" bowed at No. 1, giving Disney the biggest opening of the year so far. A prequel to "The Wizard of Oz", the fantasy adventure movie starring James Franco and Mila Kunis scored a whopping $79.1 million Statesides and raked in $70 M overseas, bringing a total of around $150 M worldwide.