Academy Award-winning actress and writer Emma Thompson had penned the screenplay for the new film adaptation that was in development at Sony Pictures. Actress Carey Mulligan was reported to star as Eliza Doolittle.
According to Mackintosh, the film "didn't happen because of various things that happened with the rights and the studio and everything like that."
Mackintosh and Duncan Kenworthy were attached to produce the film.
As previously reported, music mogul Clive Davis is attached to produce a Broadway revival of My Fair Lady.
The musical was adapted for the screen in 1963, directed by George Cukor, and cast Audrey Hepburn as Eliza and Rex Harrison as Higgins. The film won eight Academy Awards, including Best Picture, Best Director and Best Actor.