The AMBI Group executives have secured the rights to the beloved 1960 movie, which starred Marcello Mastroianni and Anita Ekberg.

A statement from Fellini's niece Francesca reads: "(Producer) Daniele (Di Lorenzo), Andrea and Monika have a beautiful vision of a modern film, and considering their Italian heritage and deep appreciation and understanding of my uncle’s works, there couldn't be a better alignment for this project."

Iervolino adds, "Our vision is of a contemporary story every bit as commercial, iconic and award-worthy as the original."

The original won a number of awards including a Best Costume Design Oscar for Piero Gherardi and the Palme D'or at the Cannes Film Festival in France for Fellini. It was also nominated for Best Film at the Academy Awards and the BAFTAs.