LOS ANGELES - Hollywood is preparing to take another trip down the yellow brick road with a remake of classic movie “The Wizard of Oz,” one of the most celebrated films of all time.

New Line Cinema, a unit of AT&T Inc’s Warner Bros studio, said on Tuesday it was developing a fresh take on the story of Dorothy and her visit to the Land of Oz that was detailed in L. Frank Baum’s children’s book “The Wonderful Wizard of Oz,” which was published in 1900.