The film will be set in the world of a shopping network. King is working on the script and will direct. Production is hoped to begin in the summer or fall of 2011. Scott Stuber will produce the Universal release.

Streep, an Academy Award winner for "Sophie's Choice" and "Kramer vs. Kramer," received a Tony nomination for 27 Wagons full of Cotton and recently appeared in the Public Theater productions of Mother Courage and The Seagull. Bullock, who holds her Oscar for "The Blind Side," has appeared recently in "The Proposal," "Infamous" and "Crash," among many other films.

In addition to her talk-show empire, Winfrey was Oscar-nominated for "The Color Purple" and co-produced the Tony-nominated musical based on the Alice Walker novel that inspired that film. Her last live-action film appearance was in "Beloved" in 1998; she has only done voiceover acting work since then.