Johnny Depp, Edgar Wright Team for Neil Gaiman Adaptation at 20th Century Fox

The studio is in talks to acquire a red-hot package built around the author’s short story “Fortunately, the Milk”

Johnny Depp is attached to star in an adaptation of Neil Gaiman‘s short story “Fortunately, the Milk” that Edgar Wright will direct and 20th Century Fox is in negotiations to acquire in a competitive situation, an individual with knowledge of the project has told TheWrap.

Depp will produce through his Infinitum Nihil banner along with Zareh Nalbandian of Animal Logic Entertainment. Wright is attached to direct from a script by Bret McKenzie of “Flight of the Conchords” fame.

HarperCollins published Gaiman’s 2014 children’s book, which¬† follows a father who goes out to buy milk and returns with wild tales of aliens, pirates and more.

The project, which is described as “a story of time travel and breakfast cereal,” is intended to be a live-action/animation hybrid.

Wright most recently directed “The World’s End” and is about to start filming “Baby Driver” with Ansel Elgort, Lily James, Jon Hamm and Jamie Foxx.

Depp can currently be seen as Boston gangster Whitey Bulger in “Black Mass.” He also has sequels to “Alice in Wonderland” and “Pirates of the Caribbean” on the horizon.

Depp isn’t the only member of the “Milk” team who’s in business with Disney, as McKenzie previously wrote the music for “The Muppets” and its sequel “Muppets Most Wanted.”