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Headline Pictures, BBC Films, and the U.K. Film Council have secured the rights to bring Geraldine McCaughrean's novel "Peter Pan in Scarlet" into the big screen.

AceShowbiz - An official sequel to 2003's "Peter Pan", the live-action picture of J.M. Barrie's classic children's novel and play, is set to come to the surface. Variety has reported that the rights to the sequel, titled "Peter Pan in Scarlet", have been picked up by Headline Pictures, BBC Films, and the U.K. Film Council to be developed into the big screen.

Based on the novel written by Geraldine McCaughrean, the project is likely to revolve around the all grown-up Wendy, her brothers, and the Lost Boys who must find a way back to Neverland after they have a disturbing dream about the place being in trouble. So far, names attached to work on the flick have not yet been revealed.

McCaughrean's book, published in October this year, was the winner of the worldwide search for a sequel to Barrie's famed work held in 2004 by the Great Ormond Street Hospital Children's Charity Trustees (GOSHCC), the beneficiary of the author's will which also owns the copyright to "Peter Pan", to mark the centenary of the original.

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