Barbra Streisand is in talks to star in "Gypsy," a new film adaptation of the 1959 Broadway play.
The project is set up at Warner Bros., which made the 1962 adaptation that starred Rosalind Russell and Natalie Wood, and is in the early stages of being set up at the studio.
Joel Silver is producing. No writer or director is attached.
Talks with Streisand are far from the deal-making stage. The icon has met with the play's lyrics writer, Stephen Sondheim, and book writer, Arthur Laurents, to discuss her role in the new movie, sources inside the actress' camp confirmed.
The play and movie is based on the memoir by Gypsy Rose Lee, a burlesque dancer, and the relationship with her mother, Rose, who has since become the prototype of a "stage mom" in pop culture.
If a deal is made, Streisand would play Rose. (Russell played the role in the movie, while Ethel Merman originated the stage persona.)
Streisand, repped by WME, hasn't starred in a movie since 1996's "The Mirror Has Two Faces," although she has appeared in supporting roles in 2004's "Meet the Fockers" and 2010's "Little Fockers."