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'The Neverending Story' reboot in the works at See-Saw Films

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March 20 (UPI) -- The Neverending Story reboot is moving forward at See-Saw Films.

The Hollywood Reporter said Wednesday that See-Saw, which produced the Oscar-winning films The King's Speech and Power of the Dog, has signed a deal to adapt the Michael Ende novel.

Deadline confirmed that See-Saw secured the rights to The Neverending Story from Ende's executor, Wolf-Dieter von Gronau.

The new live-action film series will be developed and produced by See-Saw and Michael Ende Productions.

The Neverending Story was first published in Germany in 1979. The book follows Bastian Balthasar Bux, a young boy who comes across an old book and discovers the magical land of Fantastica.

Ende's novel was previously adapted as the 1984 film The NeverEnding Story, directed and co-written by Wolfgang Petersen. The movie was followed by two sequels, The Next Chapter (1990) and Escape from Fantasia (1994).

See-Saw's Iain Canning and Emile Sherman and Michael Ende Productions' Roman Hocke and Ralph Gassmann will produce the new adaptation.

"The Neverending Story is a beloved book that has captured the imagination of generations of fans all over the world. Bringing literary worlds to screen is part of See-Saw's DNA, and we are passionate about cinematic storytelling and entertaining audiences. We have such love for the book and are honored to be working with Michael Ende Productions on this collaboration to bring audiences back to Fantastica."