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Producer Dan Jinks will head up the project, bringing in Pushing Daisies creator Bryan Fuller to write the screenplay. Jinks has revealed that Tim Burton's recent 3D re-working of Alice In Wonderland will provide inspiration for his Pinocchio.
"I think we've found a fresh approach that's going to be very entertaining," Jinks told Variety.
Pinocchio, a wooden puppet who dreams of becoming a real boy, first appeared in Carlo Collodi's 1883 story The Adventures Of Pinocchio. Walt Disney produced the most famous big-screen incarnation of the story in 1940, while the last adaptation starred Roberto Benigni and was released in 2002.
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