Porgy And Bess is set to be re-released as a film in an updated version.
The Gershwin opera is being re-envisioned by producers Mike Medavoy and Bobby Geisler according to Variety.
They will be working with the Gershwin family and the estate of lyricist DuBose Heyward to develop the project.
Marc George Gershwin, who is the nephew of the Gershwin brothers, said: "We get approached a lot with ideas that aren't very good but Mike has a great track record.
"We're confident that he's going to able to find the right director and writer. And we already have the music."
The original opera Porgy And Bess premiered in New York in 1935.
It includes the well-known songs Summertime, It Ain't Necessarily So, Bess You Is My Woman Now, I Loves You Porgy and I Got Plenty of Nuttin.
Sidney Poitier starred in the 1959 film version, but the Gershwin family were said to be disappointed by it.
Marc Gershwin said: "Hopefully this new one is going to be a lot better."
Mike Medavoy produced The Thin Red Line, Zodiac, Shutter Island and Black Swan, and Bobby Geisler also produced The Thin Red Line.