Breaking News: Clive Davis Wants Anne Hathaway and Colin Firth for MY FAIR LADY on Broadway!

As BroadwayWorld previously announced, Eliza Doolittle might be heading back to Broadway in the near future, as music industry legend Clive Davis recently announced plans to produce My Fair Lady in 2014. He told LAT: "I always wanted to produce a Broadway show, and I've never done it. I'm hopeful we will prepare and finalize everything this year to bring 'My Fair Lady' next year to Broadway with a stellar cast."

Now according to USA Today, Davis is eying LES MISERABLES star Anne Hathaway and Colin Firth to play Eliza Doolittle and Henry Higgins respectively. Firth has also starred in a big screen musical in the past, taking on Harry in 2008's MAMMA MIA. Neither actor, however, has yet starred in a Broadway production.

Davis also told USA Today that his top choice to direct the project is Tony winner Bartlett Sher, whose recent credits include: South Pacific, Golden Boy, and Women on the Verge of a Nervous Breakdown.

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My Fair Lady is a musical based upon George Bernard Shaw's Pygmalion and with book and lyrics by Alan Jay Lerner and music by Frederick Loewe. The story concerns Eliza Doolittle, a Cockney flower girl who takes speech lessons from professor Henry Higgins, a phoneticist, so that she may pass as a well-born lady. The musical's 1956 Broadway production was a hit, setting what was then the record for the longest run of any major musical theatre production in history. It was followed by a hit London production, a popular film version, and numerous revivals. It has been called "the perfect musical".

Davis has won five Grammy Awards and is a member of the Rock and Roll Hall of Fame as a non-performer. From 1967 to 1973 he was the President of Columbia Records. He was the founder and president of Arista Records from 1975 through 2000 until founding J Records. From 2002 until April 2008, Davis was the Chairman and CEO of the RCA Music Group (which included RCA Records, J Records and Arista Records), Chairman and CEO of J Records, and Chairman and CEO of BMG North America. Currently Davis is the Chief Creative Officer of Sony Music Entertainment. He currently plays a part in the careers of Aretha Franklin, Rod Stewart, Alicia Keys, Barry Manilow, Christina Aguilera, Carlos Santana, Kelly Clarkson, Harry Connick, Jr., Leona Lewis, Jennifer Hudson, BC Jean, Cassidy (rapper), Mario Barrett and Seattle De LucA. Davis is credited with bringing Whitney Houston to prominence.