Atlas Shrugged film in development with Jolie as star

A film version of Ayn Rand's iconic tome, Atlas Shrugged is in development with Angelina Jolie set to star.

According to a Wikipedia entry,

Atlas Shrugged is a film in active development by Baldwin Entertainment Group and Lions Gate Entertainment. Based on Ayn Rand’s 1957 novel, a two-part draft screenplay written by James V. Hart was developed into a 127-page screenplay by writer-director Randall Wallace.

Angelina Jolie has been confirmed to play the role of Dagny Taggart, and Brad Pitt is rumored to be cast as either John Galt or Hank Rearden. Both are fans of Rand's works. Lions Gate Entertainment has picked up worldwide distribution rights. The film is expected to be released in 2008.

As of September 29, 2007, IMDb.com lists the film as being "Back in development".

Lionsgate has hired director Vadim Perelman to direct the film.

It is the 50th anniversary of the book, which was first published in 1957.

Over at The Atlasphere, Robert James Bidinotto expresses reservations on whether a film can capture the essence of the book and Rand's philosophies, and deliver according to fan expectations.