New Line has confirmed that it is developing a new version of The Wizard of Oz with Watchmen's Nicole Kassell on board as director.

The 1939 version of L Frank Baum's classic book, starring Judy Garland as Dorothy Gale, is widely considered to be one of the greatest movies of all time and was part of the first tranche of films selected for preservation in the National Film Registry in the US.

According to Deadline, the new version will be "a fresh take" on the story and will not be a simple retelling of the Garland movie.

"While the 1939 musical is part of my DNA, I am exhilarated and humbled by the responsibility of re-imagining such a legendary tale," said Kassell.

"The opportunity to examine the original themes - the quest for courage, love, wisdom and home - feels more timely and urgent than ever.

"These are profoundly iconic shoes to fill, and I am eager to dance alongside these heroes of my childhood as we pave a newly-minted yellow brick road!"

The film is not likely to be released until late 2022.