UPDATE: I’m told that the deal being finalized will be worth $1.5 million against more than $3 million, easily making it one of the biggest spec deals of the year.

EXCLUSIVE: I’m told that Universal Pictures is putting the finishing touches on a multi-million dollar deal for Snow White and the Huntsman, a revisionist take on the fairy tale scripted by Evan Daugherty and produced by Alice in Wonderland‘s Joe Roth. Attached to direct is Rupert Sanders, who has been on a short list for many plum studio jobs including The Hunger Games and All You Need Is Kill, based on his reel of stylishly-directed commercials that include Microsoft’s Halo.

Not sure how big the deal is, but I’ve heard it’s one of the biggest so far this year and that Sony, Paramount, Fox, New Regency and Summit were all over it. I’ll do a proper write-up once it’s done.  CAA and UTA negotiated the deal together. CAA reps Sanders and UTA and FilmEngine rep the writer.

The script was one of two major properties dropped on the town. The other, the Timur Bekmambetov-directed Abraham Lincoln: Vampire Hunter, is being auctioned by WME with Tim Burton producing with Bekmambetov and Jim Lemley.