REPORT: Disney Floating Possibility of Live-Action 'Little Mermaid' Movie

Disney is reportedly in the "early stages" of remaking the 1989 animated "The Little Mermaid" as a live-action movie, in response to the success of the "Beauty and the Beast" live-action teaser -- which garnered more views than "Star Wars: The Force Awakens" in its first day -- and the financial success of Jon Favreau's "The Jungle Book" remake.

According to Deadline, "Disney production chiefs recently heard a new take and are currently evaluating whether to proceed with the idea." The site added, "...initial discussions have also taken place with major producers, including some with a strong connection to the studio."

"Little Mermaid" holds a special place in Disney history for reinvigorating its feature animation division, which went on to produce yearly smash-hits like "Beauty and the Beast," "Aladdin" and "The Lion King."

If Disney's "Little Mermaid" does indeed come into fruition, it could potentially compete against Universal's own "Little Mermaid" project, which is to star Chloe Grace Moretz ("Kick-Ass").

The next live-action Disney remake, "Alice Through the Looking Glass," hits theaters on May 27.

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