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The acclaimed composer Stephen Sondheim is at work on a new musical with the playwright David Ives (“Venus in Fur”) based on two renowned films by the Spanish director Luis Buñuel, “The Exterminating Angel” and “The Discreet Charm of the Bourgeoisie.” The Public Theater and the film and theater producer Scott Rudin are producing the work; the Public’s artistic director, Oskar Eustis, said on Saturday that the Public planned to mount the show at some point in the future.

“We will do it whenever Steve tells us to,” Mr. Eustis said.

Mr. Sondheim, who has won Tony Awards and the Pulitzer Prize in drama for his works, which include the lyrics for “West Side Story” and “Gypsy” and the full scores for “Follies,” “Sweeney Todd,” “Sunday in the Park with George,” and “Into the Woods,” confirmed the new project during an appearance on Friday night at the New Yorker Festival.

Describing by the two surrealist films by Buñuel, Mr. Sondheim noted at the event that “Discreet Charm” involved a group of people trying to find a place to dine together, and “Exterminating Angel” centers on people who finally dine – and are trapped afterwards in hellish circumstances. Mr. Sondheim, who was being interviewed by the New Yorker’s Adam Gopnik, said that he and Mr. Ives had just finished a first draft of the musical.

Reached by phone on Saturday, Mr. Sondheim said he didn’t want to say much more about the shape of the musical. The idea has been with him for many years, he said, and turned to it late last year as he and Mr. Ives decided to stop work on another project, at least temporarily.

“I mentioned this idea I had, and David knew the movies and was enthusiastic,” Mr. Sondheim said. “We looked at the films again and started working.”

Mr. Eustis said that he has been talking to Mr. Sondheim about what the composer might do next ever since the Public’s 2008 production of “Road Show,” Mr. Sondheim’s last major new musical. Mr. Eustis declined to describe the new work in any detail but spoke about its inspiration.

“The movies are two of Bunuel’s most brilliant films, and what I adore about them – and what I think Steve and David responded to – are that they are masterpieces of surrealism and masterpieces of political commentary,” Mr. Eustis said. “To be able to combine those two impulses – it’s as if Brecht met Dali – you have an artist in Buñuel who helped create the surrealist aesthetic and uses it to make a social critique of the bourgeoisie class. Sondheim and Ives saw ways to weave the two films together that are really thrilling conceptual insights.”

Mr. Sondheim, asked if the musical’s focus would be a critique of the well-to-do, said: “I don’t think in terms of themes. Oskar is a terrific dramaturge, but I don’t want to say more other than we like the story very much.”

In the years since “Road Show,” Mr. Sondheim, who is 84, was focused on completing a two-volume collection of his lyrics, which includes anecdotes and observations about writing and theater; the books were published to much critical praise in 2010 and 2011. Mr. Ives was nominated for a Tony Award for best play in 2012 for “Venus in Fur,” and is the author of the play “All in the Timing” and the books for several musicals. He also co-wrote the book for “White Christmas.”