David Yates is on board to direct the pic.
It is unclear how the new version will be interpreted, but sources say Waltz would be a military figure that crosses paths with the King of the Jungle.
A bigscreen adaptation of Edgar Rice Burroughs’ series of novels, “Tarzan” is being produced by Jerry Weintraub and Alan Riche with Mike Richardson and Yates exec producing. Numerous scribes worked on the script including John August, Marianne Wibberley and, most recently, Adam Cozad.
Jesse Ehrman will oversee for Warner Bros.
The studio is still awaiting a greenlight, which some say may come in November with a summer start date. Still, Warners wants to begin packaging a cast to present to the greenlight committee. Yates is also taking meetings with actresses to would play Jane.
Sources say “Focus” star Margot Robbie and Emma Stone (UPDATE: sources close to Stone have since said the actress recently passed on the part) are among the actresses being considered but there are no contract talks on that front.
The ICM Partners-repped-Waltz can be seen next in “The Zero Theorem” and was most recently seen in “Django Unchained,” which won him his second Oscar for supporting actor.