Cannes 2012: Cate Blanchett, Mia Wasikowska to Star in 'Carol'

Cate Blanchett and Mia Wasikowska have been confirmed to star in the new adaptation of Patricia Highsmith’s novella Carol (aka The Price of Salt) by producers Stephen Woolley and Elizabeth Karlsen at Number 9 Films.

our editor recommends

Newcomer Jeremy Irvine to Star as Pip In Mike Newell's 'Great Expectations'

PHOTOS: Cannes 2012: Day 2 in Pictures

John Crowley will direct from a script penned by Phyllis Nagy based on Highsmith's story set in 1950s New York that follows the burgeoning relationship between two very different women.

British sales and finance banner Hanway is hawking the project to buyers at the Marche du Film and will expect brisk business now the project has secured both its stars.

The film will be produced by Karlsen and Woolley through the pair's Number 9 Films.

PHOTOS: Cannes 2012: The Market's Most Outrageous Movie Posters

It is co-developed and co-financed by Film4, broadcaster Channel 4's standalone movie-making film arm, with shooting scheduled to begin February 2013 in London and New York.

Karlsen and Woolley said in a joint statement they were "thrilled to be working with Cate Blanchett and Mia Wasikowska," describing the women as "two of the most talented actors working today."

Film4 chief Tessa Ross said: "Carol is a beautiful and heart-breaking story and it's a testament to the talents of Phyllis and John that we've attracted actresses of Cate and Mia's calibre to star at the heart of it."

Woolley and Karlsen are in post-production on Mike Newell's Great Expectations starring Helena Bonham Carter, Ralph Fiennes and Jeremy Irvine.