All three will produce along with Emma Cooper. Watts is attached to star.
Based on a true story, the film revolves around a unique little bird that saves a family spirits after the mother was paralyzed in an accident. Bradley Trevor Greive wrote the book on which the film will be based.
Once a screenwriter is selected, the project is expected to shoot in Australia sometime next year.
Watts will next be seen starring for Colin Trevorrow in “The Book Of Henry” and “The Glass Castle” opposite Brie Larson and Woody Harrelson. She also stars in the Netflix psychological thriller “Gypsy.” Witherspoon and Papandrea have produced “Wild”, “Gone Girl” and “Hot Pursuit” as a team. They are also working on “Luckiest Girl Alive” at Lionsgate and “Ashley’s War” at Fox 2000.
Witherspoon can be seen next in “Little Big Lies.” She is repped by CAA and LBI Entertainment. Watts is also repped by CAA.
Atria Books will publish the book in the U.S. and Canada on April 4, 2017 under the title “Penguin The Magpie.” Deadline Hollywood first reported the news.