Former United Artists CEO Paula Wagner is developing a screen adaptation of Miss Saigon as a potential directing vehicle for Lee Daniels.

According to Variety, Daniels' reps say it's one of several possible next projects on the table but would not confirm.

Wagner intends to move quickly under her newly formed Chestnut Ridge Prods. banner.

A screenwriter is about to be hired, and financing discussions are under way with an eye toward getting the film into production next year for a 2011 release, sources said.

The movie will be faithful to Claude-Michel Schonberg and Alain Boublil's tragic love story of a Vietnamese bar girl and an American soldier before the fall of Saigon in 1975. "Miss Saigon," which opened on the West End in 1989 and played on Broadway for nearly 10 years, has been performed in 25 countries.