Guillermo Del Toro is one busy director. Even though he is in the midst of preproduction for The Hobbit, the director is also concurrently developing a stop-motion movie with the Jim Henson Co.

The project is a retelling of the Pinocchio fairy tale, but this time with a darker theme.

The project, to be produced by JHC, will have Del Toro executive produce. The directors for the film are Gris Grimley and Adam Parrish King.