As reported here, Columbia Pictures is fixing to do a remake of My Fair Lady with Keira Knightley as Eliza Doolittle. That doesn't sound like a very commercial idea to me. With a lot of musicals that were translated to film, there's plenty of room for improvement…and stars who aren't so identified with the roles that it seems wrong to do the show with someone else. I don't think My Fair Lady is in either category but who knows? If they can make something wonderful, it might be justify its own existence.
They plan to shoot the whole thing in England in, wherever possible, the original locations. That sounds promising. There were two things that always bothered me about the 1964 movie and one was how it really looked like it was all done inside a soundstage. (The other thing is how "dubbed" Audrey Hepburn feels.)
What caught my eye in the above-linked article was this…
The filmmakers plan to adapt Alan Jay Lerner's book more fully for the screen by drawing additional material from George Bernard Shaw's play "Pygmalion," which served as the source material for the musical.
What they oughta do — and I'll bet they've already thought of this — is to not go back to the play so much as to the 1938 movie. Shaw did the screenplay and it's full of good cuts and richer scenes. The Broadway musical was officially based on the play but I've long felt it was really based on the movie. Maybe the new movie will be based on the old movie.