Elizabeth Banks and Margot Robbie have joined hands for the movie adaptation of modern children's classic "The Paper Bag Princess".
The 1980 book by Robert Munsch is famous for reversing the fairy tale princess stereotype with its story of female empowerment.
Universal bought the rights to the book after a bidding war.
Banks is attached to direct the project, which she will also produce with Robbie via their respective production houses -- Brownstone Productions and LuckyChap Entertainment, according to the Hollywood Reporter.
Katie Silberman will write the screenplay.
Robbie is likely to star in the project but it is not certain at this time.
Published in 1980, "The Paper Bag Princess" is about a princess all set to marry her perfect Prince Charming when a dragon attacks the kingdom, kidnaps the prince and burns the castle.
With no clothes left to wear, the princess wears a paper bag and sets out to fight the dragon. When she saves the prince, he ungratefully admonishes her for not looking like a princess. She then decides to ditch the prince and dances into the sunset alone.
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