Paul Thomas Anderson is officially on board to pen the script for Warner Bros. and Robert Downey Jr.'s live-action adaptation of "Pinocchio," according to The Hollywood Reporter.

Anderson, who may also direct the feature, will take the scriptwriting reins from "The Giver" scribe Michael Mitnick, who penned earlier drafts of the film. Downey tinkered with Mitnick's script for months before his friend Anderson joined "Pinocchio." Downey will play Geppetto, the creator of a wooden puppet who comes to life after he wishes for a son.

Though the film has been in the works for quite some time, the success of Disney's live-action adaptations like "Alice in Wonderland" and "Cinderella" has spurred Warner Bros. to speed up production.

Bryan Fuller and Jane Goldman also wrote previous drafts of the script, which is based on a novel by Carlo Collodi. Downey will produce alongside Susan Downey and Dan Jinks.