Stephen Daldry's fantasy musical romance film "Wicked: The Untold Story of the Witches of Oz" is set to hit theaters in the last quarter of 2016, as per latest reports.

According to Movie Pilot, Daldry's "Wicked" will be in theaters in the winter of the year; however, movie producer Marc Platt revealed that the aforementioned release date was not yet the final.

In Platt's interview with the publication in January 2015, he said that 2016 was the goal, but he did not know whether they would make that goal or nor. He also mentioned that they would make the movie, but the bar was really high. For the producer, they were going to scrutinize their work on the screenplay and their prep on the movie until they felt like it was ready.

The producer also explained that they were not in a rush to push the filming of the project right away, with the belief that other stage musicals like "Les Miserables" and "Into the Woods" were worked on for three decades before they appeared on the big screen.

"Wicked" first appeared as a Broadway in 2003 and starred "Frozen" star Idina Menzel and theater actress Kristen Chenoweth in lead roles. Daldry's take in the "Wicked" film is a prequel to "The Wizard of Oz" and centers on the life of Elphaba who is a nice girl until the society's disapproval turns her wicked.

The film is rumored to star Lea Michele as top choice to play Elphaba, as per All Media NY. With Daldry at the helm of the film, Winnie Holzman, who penned the original book of the same name, is on board to pen the film screenplay. Marc Platt and David Stone are set to co-produce the film.

With the film in its early stage of development, exact details on the plot, characters, cast, and release are yet to be revealed.