Fox 2000 hopes Hugh Jackman is ready to take a spin on a remake of the classic musical "Carousel."

According to Variety, Jackman's Seed Prods. shingle will produce the film, with Jackman expected to play the key role of carnival barker Billy Bigelow.

Neither the studio nor star is stranger to the musical. Fox produced the 1956 feature version of "Carousel," which starred Shirley Jones and Gordon MacRae, while Jackman contributed a song from the show to a 2002 Carnegie Hall tribute to the creative team of Rodgers & Hammerstein.

The industry trade says that Fox 2000 is still negotiating with the Rodgers & Hammerstein Organization for rights to the "Carousel" music and lyrics.

The show focuses on Billy, a man in purgatory given one day to return to Earth to fix the mistakes he made in life.

Jackman already has a deal to develop musicals for Disney, though Seed has a first-look deal with Fox.

The "X-Men" star can currently be seen on the big screen in Woody Allen's "Scoop." His busy fall slate includes Christopher Nolan's "The Prestige" in October and the November release of Darren Aronofsky's "The Fountain," as well as vocal turns in "Happy Feet" and "Flushed Away."