"'The Lion King' builds on Disney's success of reimagining its classics for a contemporary audience with films like 'Maleficent,' 'Cinderella' and 'The Jungle Book,'" The Walt Disney Company said in a news release Wednesday. "The upcoming 'Beauty and the Beast,' starring Emma Watson as Belle, is already one of the most anticipated movies of 2017."
Favreau hinted at his next project in a tweet on Wednesday.
There is no release date set for the reimagined "Lion King." Favreau and Disney are also working on a sequel to the live-action "Jungle Book."
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