Though Variety does err in reporting both Kapur's age (early 40s) and number of films he's helmed (40), it says Steinbeck is based on a script by Brandon Camp and Mike Thompson that became one of the highest-profile development projects in town after it was initially purchased by Bel Air's Steve Reuther and producer Mark Johnson for $ 700,000 against $ 1.5 million.

Initially, Camp was supposed to make his directorial debut with Steinbeck but once Tom Cruise and other A-listers evinced an interest in the script, Camp stepped aside as helmer. The Steinbeck dealsigned by Camp and Thompson escalated to $ 2 million against $ 4 million with a potential extra bonus of $ 1 million. But Cruise, about to start work on the Mission: Impossible sequel and then Minority Report for director Steven Spielberg, will probably not be available to star in the film.

WB president Lorenzo Di Bonaventura and Bel Air's Reuther and Johnson worked hard to bring Kapur into the fold. ``In concert with Shekhar, we'll begin approaching cast for the next few weeks and we'd like to be shooting by early summer,'' Reuther said.

Kapur has also been conversing regularly with Andrew Lloyd Webber about finally turning his beloved Phantom into a screen vehicle. WB has found that no easy feat, with numerous high-profile helmers considering and then walking away from the job, ranging from Joel Schumacher to a most recent dalliance with Hong Kong action legend John Woo, who wanted his Face/Off star John Travolta to play the title character.

Lloyd Webber began talking withKapur after seeing Elizabeth and it appears they'll develop the property together, if Lloyd Webber can abide Kapur's desire to interpret his cherished musical by taking creative liberties, along the lines of how Baz Luhrmann adapted Romeo & Juliet or Julie Taymor dramatically transformed the animated movie, The Lion King, for the Broadway stage.