Sofia Coppola will direct a live-action version of The Little Mermaid.

The filmmaker has reportedly set her sights on Hans Christian Andersen's tragic fairy tale as her next project after 2013's The Bling Ring, and is in negotiations to bring the classic children's story to life on the big screen, Deadline.com is reporting.

Fans shouldn't expect a repeat of Disney's bubblegum 1989 cartoon version about aquatic princess Ariel and talking crab Sebastian, however. Coppola is thought to be planning a version in keeping with the original 1837 story, which sees the broken-hearted Little Mermaid commit suicide after the Prince marries another woman.

The new Universal Pictures/Working Title production is said to be based on a script by Caroline Thompson (Edward Scissorhands), which was originally drafted by Kelly Marcel (Saving Mr. Banks) and Abi Morgan (Shame).

Coppola is taking over from Atonement helmer Joe Wright, who was originally on board to direct, and intends to "move quickly" with the project.

The director has young daughters Romy and Cosima with her husband, Phoenix frontman Thomas Mars, and is said to want to make a movie which her children can appreciate.