Peter Jackson's next project will be an adaptation of Alice Sebold's The Lovely Bones.

The Lord of the Rings director and his partner Fran Walsh have bought the film rights to the novel from Filmfour, who will work with the pair on the movie, says Variety. No financing possibilities will be made until the movie is budgeted and scripted, which should have happened by next May.

The Lovely Bones follows the story of a 14-year-old girl, Susie, who recounts the story of her death and watches her family carry on with their lives while she is in heaven.

The project will be next in line after Jackson's current work on King Kong. Scriptwriting should begin next January for a potential 2007 release.