The Alchemist Movie In The Works

Deadline reports, Cinema Gypsy's Laurence Fishburne, PalmStar Media's Kevin Frakes, and TriStar president Hannah Minghella have teamed-up to produce a feature film adaptation of Paulo Coelho's international best-selling 1988 novel The Alchemist, which has sold over 65 million copies in 56 languages.

In 2008, it was announced that The Weinstein Company (TWC) had purchased the book rights and had Laurence Fishburne, the star of The Matrix trilogy, set to direct, produce and star, but after spending $5 million on the rights and multilple drafts of the script, TWC chose to sell the rights to Frakes and Buddy Patrick for $6.5 million at the Toronto Film Festival. The deal also includes "another $1.5 million in producing fees against potential back end for Bob and Harvey Weinstein, who remain in producing capacities."

"The Alchemist changed my life when I first read it almost 20 years ago," Frakes said. "It helped give me the courage to take chances and the confidence to chase my dream. In my first conversation with Hanna about The Alchemist, I realized she understood the impact this novel has and I knew I wanted to make this film with TriStar. I could not be more excited that we are starting the journey together."

About The Alchemist:

Paulo Coelho's masterpiece tells the mystical story of Santiago, an Andalusian shepherd boy who yearns to travel in search of a worldly treasure. His quest will lead him to riches far different—and far more satisfying—than he ever imagined. Santiago's journey teaches us about the essential wisdom of listening to our hearts, of recognizing opportunity and learning to read the omens strewn along life's path, and, most importantly, to follow our dreams.

Hoping for a 2018 release, The Alchemist should go into production by mid-2017.