The film, which tells the tragic love story between a Vietnamese bar girl and an American soldier before the fall of Saigon in 1975, will be directed by Lee Daniels, who is generating mayjah buzz for Precious.
No screenwriter has been hired or investors in place, but they are aiming for a 2011 release date.
Considering Wagner was behind such duds as Valkyrie and Lions for Lambs, the odds are not on her side.
Musical adaptations take a lot to get off the ground, but it's probably not the right time for such a downer!
P.S. And with Jonathan Pryce too old for the lead, you may just wanna shoot yourselves now!