Pablo Larraín will direct the project that was written by Steven Knight.
Stewart will portray Diana as she decides, during her Christmas holidays with the royal family at the Sandringham estate in Norfolk, England, to leave her marriage to Prince Charles.
Production is expected to begin in early 2021, with Larraín and Juan de Dios Larraín, the director’s brother and filmmaking partner, producing through their Fabula banner along with Jonas Dornbach, Janine Jackowski and Paul Webster.
CAA Media Finance and Endeavor Content negotiated the deal on behalf of the filmmakers. FilmNation Entertainment are handling international rights.
Neon’s release plans will be announced at a later date.