EXCLUSIVE: Gypsy is coming back together. New Regency has come aboard to finance, and negotiating to direct is Amy Sherman-Palladino, who is coming off winning four Emmy Awards for writing, creating, exec producing and directing The Marvelous Mrs. Maisel. Joel Silver is producing.

Barbra Streisand has exited the previous incarnation of the project, where Barry Levinson was going to direct at STX with a script by Richard LaGravanese, and Streisand was going to play the iconic Mama Rose. This plan cratered when STX exited in 2016. This is a plum role and I am hearing names that include Melissa McCarthy, who is Oscar nominated for Can You Ever Forgive Me? and who worked with Sherman-Palladino on Gilmore Girls, but I am told that no casting decisions have been set and that call will be made by Sherman-Palladino once her deal is closed.

Based on the classic musical from Arthur Laurents, Jule Styne and Stephen Sondheim, Gypsy tells the story of the loving but iron-willed Mama Rose and her two daughters, who she pushed to become vaudeville stars. Through times of joy, sacrifice and heartache, Rose never stopped chasing the American dream for her family and herself, forging one of her daughters into the burlesque legend Gypsy Rose Lee. Sherman-Palladino certainly understands the subject matter. She is the daughter of comedian Don Sherman and dancer Maybin Hewes, and she herself started as a dancer before she became a writer-producer-director on such TV shows as Roseanne, Gilmore Girls and then her smash hit Amazon series that keeps sweeping up all the awards these days.

Sherman-Palladino is repped by CAA.