You're probably thinking, "Wait, isn't there already a live-action The Little Mermaid on the way"? Well, yeah, but that's over at Universal Pictures with Chloe Moretz set to lead it. It was only a matter of time until Disney circled back around to their Oscar-winning 1989 animated film, especially given the box office success they've found by remaking their entire back catalog.
Deadline doesn't have much information other than Disney's interest in bringing The Little Mermaid back to the big screen in live-action format. There are no writers, stars, or a director attached at this point, but you can bet that will change soon. This news follows on the heels of the first trailer for Beauty and the Beast, which broke Youtube records for most views in a single day. Disney also has Alice Through the Looking Glass hitting theaters this weekend, so they are fully invested in reimaginings of their fairy tale classics.
What they are probably considering is the timing. They don't want to play second-fiddle to Universal's film if it proves to be a smash. It's the same situation Warner Bros. finds itself in with Andy Serkis' Jungle Book: Origins, which has the unenviable task of following behind Jon Favreau's The Jungle Book.
So add this to the list of upcoming Disney remakes along with Winnie the Pooh, Dumbo, Cruella, Mary Poppins, Pete's Dragon, and Tinker Bell.