At least nine musicals are planned for development within the next several years, with the potential goal to return the stage properties back to film in their new musical form.

"The early development phase is both an exciting and vulnerable time in the life of a musical," McCollum said in a statement. "This new joint venture provides a much needed foundation to the creative process for myself, my partners, and the artists who will develop these shows. We are eager to get to work mining the stage theatrical possibilities of the Fox film library."

Specific titles in the pipeline were not announced, however McCollum is currently attached to the new stage musical Ever After based on the 1998 20th Century Fox film of the same title that starred Drew Barrymore.

Fox also tapped New York Musical Theatre Festival executive director and producer Isaac Robert Hurwitz to consult on the development of the theatrical projects.

"For years we have been eager to expand our entertainment expertise to the world of live stage, but we wanted to do it right and most importantly, with the right people," 20th Century Fox chairman and CEO, Jim Gianopulos said in a statement. "We have been fortunate to have found great partners in Kevin, John and Tom to help to transform great Fox properties into exciting live stage entertainment for audiences everywhere." McCollum's numerous stage productions also include The Drowsy Chaperone, Avenue Q, Baz Luhrmann's La Boheme, Bengal Tiger at the Baghdad Zoo, [title of show], White Christmas, the revivals of Ragtime and West Side Story, and the Off-Broadway production of De La Guarda.

Davis has produced such films as "I, Robot," "The Firm," "Dr. Doolittle," "Grumpy Old Men," "Gulliver's Travels" and "Predator."

McGrath oversaw the stage musical adaptations of such films as "White Christmas," "Footloose," "Saturday Night Fever" and "Roman Holiday" for Paramount.