The 69-year-old Oscar winning director has secured the rights to remake the movie, said The Hollywood Reporter.
"Angels in America" playwright Tony Kushner is working on a script, and Spielberg would make the potential project with Fox and MGM.
It is a longtime passion project for the "Bridge of Spies" helmer and something he has hoped to adapt "for decades," adding that he originally tried to get the rights 15 years ago.