One of the most prolific and busy people in the movie industry these days is the magical Guillermo del Toro, and now comes an update on one of the several new projects on the way for the huge genre favourite.

Via Deadline, it’s been reported that del Toro’s adaptation of Nightmare Alley is in talks with Leonardo DiCaprio. Fox Searchlight is handling the movie, with del Toro producing and directing his own unique take on William Lindsay Graham’s 1946 novel. GDT has penned the screenplay along with Kim Morgan.

The source material – not to mention the 1947 movie adaptation – centres on a conman who teams with a female psychiatrist to trick some poor saps out of their money.

As ever, expect more on del Toro’s Nightmare Alley as it continues to develop.