Alvarez will write the script with Jay Basu and direct the project, which is set up at Tri-Star. Lisa Henson of The Jim Henson Company will produce.

Alvarez and Basu are developing Girl in the Spider's Web, the sequel to Girl With the Dragon Tattoo, and will tackle the Labyrinth project after that.

Labyrinth tells of a teenager, originally played by Jennifer Connelly in one of her first roles, who has to navigate a fantastical maze in order to save her young brother, who has been kidnapped by a goblin king (Bowie). It was the last film directed by Henson and was executive produced by George Lucas and written by Monty Python member Terry Jones.

Insiders stress that the new project is not a remake nor a reboot but rather a continuation of the story set in the rich Henson universe. The goblin king will not be represented in the film.

Nicole Brown is overseeing for Tri-Star.