Maverick Films — headed by Madonna and Guy Oseary — and VH1 are collaborating on a new project based on Pygmalion, reports Variety. "How to Be the Perfect Latino Popstar" is the working title for the new project, which is set in the Latin music world. Featuring a script by Laura Angelica Simon, the project will be executive produced by Mark Morgan, Madonna and Oseary along with the president of Maverick Records' Latin division, Bruno Del Granado. George Bernard Shaw's Pygmalion, based on classical myth, concerns a professor who tutors a Cockney woman in the refinement of her speech and manner. Lerner and Loewe's award-winning musical My Fair Lady was based on Shaw's work; the original production cast Julie Andrews, Rex Harrison and Stanley Holloway in the lead roles.

. No air date has been scheduled for "How To Be the Perfect Latino Popstar," the latest project from VH1, which will also offer theatre lovers "Liza and David," a reality program featuring Liza Minnelli and new husband David Gest. "Liza and David" will premiere in October.

—By Andrew Gans