A source with knowledge of the project, who spoke on condition of anonymity, told Playbill.com that Disney's plans for the project have not changed since the November 2013 announcement that it was developing the property for the stage.
It has yet to be officially announced if The Princess Bride will be a musical or not; however, Rob Reiner, who directed the 1987 film adaptation, told WENN, "I think it would make a great musical. I think the songs 'As You Wish' and 'Inconceivable,' and 'The Battle of Wits' just jump out at you."
Following Reiner's statement in late July, The Guardian reported that Disney's plans for the stage production of Princess Bride had hit "roadblocks," citing a lack of updates on Disney's website for the show.
The project continues to quietly move forward.
Goldman had previously begun collaborating with Tony-winning Light in the Piazza composer Adam Guettel on a musical adaptation of "The Princess Bride," but the two parted ways on the project in 2007.
The production will be based on Goldman's original novel and his 1987 screenplay. The creative team and development timetable for the project have yet to be determined. The deal was shepherded by Alan Horn, chairman of The Walt Disney Studios.
"I am thrilled that the next chapter in the life of The Princess Bride will unfold on the stage. With Alan Horn, Thomas Schumacher and his team at Disney Theatrical Productions leading the way, Buttercup, Westley and all of Florin are in the best of hands," Goldman said in a November 2013 statement.
"The Princess Bride has proven to be an enduring delight and a beloved favorite to multiple generations," added Thomas Schumacher, president and producer Disney Theatrical Productions in a statement. "What William Goldman created is first and foremost a celebration of storytelling; what better place to spin that tale than on the stage?"
Goldman is a famed screenwriter known for the films "Butch Cassidy and the Sundance Kid," "All the President's Men" and "Marathon Man." He also wrote the classic examination of the Broadway world, "The Season."