AceShowbiz -

Elton John has picked up movie rights to the famous stage musical "Joseph and the Amazing Technicolor Dreamcoat" through his production company, Rocket Pictures. According to The Wrap, the British music icon is now going to adapt the story into an animated film.

Created by Andrew Lloyd Webber and Tim Rice, the musical tells the story of Joseph and the coat of many colors. "I have always thought 'Joseph' was a strong contender for an animation production, and I'm delighted this is now going to happen," Rice gushes in a statement.

" 'Joseph and the Amazing Technicolor Dreamcoat' started in a school and was the first step on the path that led to my musicals with Tim Rice. It is now being performed all over the world by a fourth generation of school kids, and a great movie can only help Joseph being part of the lives of many more," Webber says.

The singer will executive produce the project along with Webber and Rice, while his partner David Furnish and Rocket Pictures CEO Steve Hamilton Shaw will serve as producers with Webber's The Really Useful Group.

After finding commercial and critical success with "Gnomeo and Juliet", Rocket Pictures is now working on Elton John biopic "Rocketman" starring Tom Hardy. The company is also making "Gnomeo and Juliet: Sherlock Gnomes" as a sequel to "Gnomeo and Juliet". It additionally develops animated family film "Will Gallows and the Snake Bellied Troll" written and to be directed by Kelly Asbury.