New Regency is on board to finance with Joel Silver producing. STX Entertainment had agreed in 2016 to finance Barbra Streisand’s proposed remake of “Gypsy,” but backed out a few months later.
“Gypsy” tells the story of the burlesque legend Gypsy Rose Lee, based on her 1957 memoir about her career and hard-as-nails stage mother. That book served as the inspiration for the highly successful 1959 musical, starring Ethel Merman, with popular songs including “Everything’s Coming up Roses,” “Small World,” “Let Me Entertain You” and “All I Need Is the Girl.”
The 1962 movie, starring Rosalind Russell and Natalie Wood, was a financial success with $11 million in box office revenue and nabbed three Academy Award nominations, plus a Golden Globe for Russell. Bette Midler starred in a 1993 TV adaptation directed by Emile Ardolino. The musical has been revived several times on Broadway, most recently the 2008 production starring Patti LuPone as Mama Rose.
Sherman-Palladino has won four Emmy Awards for Amazon’s “The Marvelous Mrs. Maisel,” starring Rachel Brosnahan as a housewife who becomes a successful New York standup comedian in 1958. The show has been renewed for third season.
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The news about Sherman-Palladino and New Regency was first reported by Deadline Hollywood.