2 new versions of "The Wizard of Oz" reportedly in the works

"Sunday Morning" Matinee: "Chasing Rainbows: The Road to Oz"

MINNEAPOLIS -- Hollywood has a tendency to remake the classic. But now one of the most beloved films of all times is getting not one, but two remakes.

Variety reports that both Warner Bros. and New Line are planning to recreate the classic children's tale of Dorothy's visit to the magical land of Oz.

Add to that the fact that the Broadway musical "Wicked," based on the classic L. Frank Baum book series, is also in development for a two-part film adaptation.

The Warner Bros. version of the material will be directed by "Black-ish" creator Kenya Barris, whereas New Line's project will be directed by Nicole Kassell ("Watchmen").

Minnesota native Judy Garland starred in the 1939 MGM musical classic.

There have been a number of other versions of the Oz stories adapted for the screen, including the 1978 musical "The Wiz," starring Diana Ross and Michael Jackson, and 1985's "Return to Oz."

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