Believe it or not, there’s been talk of a live action Pinocchio movie for a while now. Big names like Guillermo del Toro, Robert Downey Jr., and of course Disney have been attached to one adaptation attempt or another, with nothing coming to fruition…yet.

However, it looks like the story of the little wooden puppet who wants to be a real boy is getting another go, this time with Oscar winner Sam Mendes in talks to direct the fairy tale.

Mendes was previously attached to the James and the Giant Peach remake, but has since moved on to the Pinocchio adaptation, presumably as a result of the success of Beauty and the Beast, The Jungle Book, and Cinderella, though no formal public reason has been released yet.

Mendes, who is known for directing the last two James Bond movies as well as his Oscar win for American Beauty, recently directed a play in London called  The Ferryman starring Paddy Considine and written by playwright Jez Butterworth. The play sold out within the day and is scheduled to open at the West End on June 20. The script for the Pinocchio adaptation is being written by Chris Weitz, who will also be producing the film with his production company, Depth of Field.

The famous Disney animated film hit the big screen in 1940 and was the second animated feature film from the company after Snow White. While it was not a box office success at first—it grossed below expectations after the massive success of Snow White—it has received significant modern acclaim, including holding a place in the United States National Film Registry. Will the modern day remake have the same cultural impact? Only time will tell.