He just paid tribute to his home country in the epic Australia, but director Baz Luhrmann is landing next on Long Island. Yes, it’s true: I can report that Baz Luhrmann’s next project is definitely The Great Gatsby. The Aussie filmmaker recently purchased rights to the F. Scott Fitzgerald classic and my favorite book, which is set primarily on the lush North Shore (aka the Gold Coast) where I grew up in East Egg. Thankfully, Baz should wipe away memories of that 1974 abomination with Robert Redford and the horribly miscast Mia Farrow, or the 1949 laugher with Alan Ladd. (And let’s not forget that Entourage just cast Vincent Chase as Nick in Marty Scorsese’s version.) My insiders confirm that Luhrmann is actively searching for a young actress to portray Daisy, Jay Gatsby’s unrequited love. I think Amy Adams fills the bill (because, mercifully, box office poison Nicole Kidman is too old). Forget my suggestion of Paul Rudd for Nick because he played that part in an A&E version I never saw. As for Gatsby himself, Baz’s Romeo & Juliet leading man Leonardo DiCaprio if he doesn’t break the budget. Or James Marsden on the cheap. Other names?

Editor-in-Chief Nikki Finke - tip her here.

Get Deadline news and alerts sent to your inbox.