From the Guardian:
Mexican auteur Alejandro González Iñárritu, renowned for high-minded dramas such as Babel and 21 Grams, is being lined up to direct a big-budget adaptation of The Jungle Book, it has been reported.
However, this live-action Jungle Book, written by Harry Potter's Steve Kloves and back[ed] by Warner Bros, is facing serious competition in the shape of a similar project from Disney, which earlier this year was reported to have attached Iron Man's Jon Favreau as director. Disney recently confirmed an October 2015 release date for their movie, so it would appear their project is well advanced.
And now The Bare Necessities is going to be in my head all day.