The publication reported, “Disney production chiefs recently heard a new take and are currently evaluating whether to proceed with the idea.” The report also said that “initial discussions have also taken place with some major producers, including some with a strong connection to the studio.”
Disney was encouraged by the success of its recently released remake of the Jungle Book musical film, which has earned a reported $860 million. The live-action remake of Beauty and the Beast is already in the pipeline for a 2017 release, and the teaser trailer released this week attracted a reported 91.8 million views in its first 24 hours of release—outdistancing the previous record-holder Star Wars: The Force Awakens, making it the most-watched such trailer in history.
A whole older generation saw the original Little Mermaid film, and a whole younger generation was raised on the VHS and DVD of the film or saw the 2008 Broadway stage adaptation, which ran 685 performances. The film was written by John Musker and Ron Clements, based on the story of the same title by Hans Christian Andersen. The score is by Oscar winners Alan Menken and Howard Ashman, who also scored Disney's Beauty and the Beast and Aladdin.
The lasting popularity of The Little Mermaid was proven again recently when a concert performance announced for a single performance at the Hollywood Bowl in June quickly sold out and needed to add two more performances. It's now scheduled for June 3, 4 and 6.