Disney is working on reworking their animated films into live action. One of the films is Beauty and the Beast. Dan Stevens has been cast as Beast. Another role that has been reportedly cast is Gaston.
The most recent draft of the screenplay has been finished by Stephen Chbosky. Of course, there are going to be similarities as well as differences in the story as it compares to the original animated feature.
Brit reports the producers could go to the original story in order to bring out a new and interesting take on the characters. This seems like they are trying to adapt the animated feature into live action.
Beauty and the Beast has been adapted plenty of times for the small screen and the big screen., One of the more recent attempts at Beauty and the Beast resulted in a film called Beastly.
Other movies that could be consider for re-adaptation are The Little Mermaid, and Aladdin. It would be confusing to see how they would do a live action Lion King. Part of the appeal of those movie was that they were animated.
Beauty and the Beast starts filming soon for a 2016 or 2017 release.