The Great Gatsby Remake NewsBaz Luhrmann began dropping hints last week that he may consider walking away from the Great Gatsby adaptation he's been working on for quite some time. Who knows what might have been behind the disagreement (perhaps some director/studio posturing), but regardless, we now get word from Deadline that Warner Bros. is near a deal to finance the worldwide distribution of The Great Gatsby, the Baz Luhrmann-directed adaptation of F. Scott Fitzgerald's literary classic.

Stars Leonardo DiCaprio, Tobey Maguire, and Carey Mulligan are attached to the film project, the formal announcements about which are expected to come down later. It's said that DiCaprio will portray Gatsby, with Carey Mulligan depicting the fiery Daisy Buchanon, and Tobey Maguire narrating as Nick Carraway.

No word yet on whether it will be better than Luhrmann's previous film, the dreadful Australia.


UPDATE: ABC News is now confirming that Lurmann will indeed begin filming The Great Gatsby in August later this year in Sydney, Australia. DiCaprio will play Gatsby. In addition, the movie will be filmed in 3D marking the first live action 3D film to be shot in New South Wales.

An estimated 275 crew will be hired during pre-production, more than 400 cast and crew during principal photography and an estimated 150 post-production and visual effects crew will also be employed.

Premier Kristina Keneally says The Great Gatsby has been secured under the NSW Government's enhanced film investment fund and will inject more than $120 million into the economy.