STX Entertainment said today that Elton John, Andrew Lloyd Webber and Tim Rice will team for a feature animated version of Joseph And The Amazing Techicolor Dreamcoat. Adam Fogelson, chairman of STX’s Motion Picture Group, took to the stage Tuesday at CinemaCon in Las Vegas to unveil the new offering and said the pic is slated for the STX Family banner. The film will also feature new songs written by Lloyd Webber and Rice.

Joseph And The Amazing Technicolor Dreamcoat is a musical from Webber and Rice that was conceived in the 1960s and has since been performed on stage many times, including on Broadway. The story is based on the coat of many colors from the Joseph story in the Book of Genesis from the Bible.

It follows Joseph, the favorite son of Jacob, who is sold into slavery by his jealous siblings. While in exile, his knack for interpreting dreams gains him favor with Pharaoh, and leads to an unexpected reunion with the family who abandoned him. The musical is actually known as the very first Webber-Rice musical that was performed in public.

Elton John’s Rocket Pictures is producing the film in association with Really Useful Group. Rocket is currently producing the animated feature Sherlock Gnomes for Paramount starring Johnny Depp, Emily Blunt and James McAvoy, the follow-up to the hit Gnomeo & Juliet.

John and Rice huddled on The Lion King for Disney to great success. They won an Oscar for Best Original Song for “Can You Feel The Love Tonight,” and from their collaboration several other songs rose to success such as “Circle Of Life” and “Hakuna Matata.”

Also announced today as part of STX Family: an untitled Eddie Murphy-voiced one about Bo the Bull, and Ugly Dolls with writer-director Robert Rodriguez on board.