A live-action remake of Hans Christian Anderson's iconic "The Little Mermaid" tale is in the early stages of development by Disney, according to Deadline.

The report suggests that "Disney production chiefs recently heard a new take and are currently evaluating whether to proceed with the idea," with the studio now vetting some major producers for the task.

The story of Ariel the singing mermaid, adopted by Disney in 1989, became an instant hit and was a turning point for the studio which went on to find success in similarly executed animated films such as "Beauty and the Beast" and "Aladdin."

The news of the project follows the recent release of the live-action interpretation of "The Jungle Book," with a worldwide gross to date of $860 million, and the phenomenal success of the teaser trailer for the live-action version of "Beauty and the Beast," unveiled earlier this week and viewed almost 92 million times in its first 24 hours alone.