After throwing out a couple of red herrings earlier this month, it looks as though Steven Spielberg has finally settled on his next project as a director. As it turns out, it won’t be one of the many movies he had been flirting with up until now. The 67-year-old filmmaker has officially signed on to helm a live action adaptation of Roald Dahl’s children’s book The BFG. The book has already been adapted once before as an animated feature in the U.K., but this particular version has been in development for a couple of years now with directors like John Madden and Chris Columbus previously attached. There is a possibility that Spielberg might fit in another smaller film before taking this one on, but for the moment, The BFG is the only definite thing on his upcoming schedule.

According to THR, Steven Spielberg has committed to direct The BFG for DreamWorks in early 2015 with an eye on a 2016 release date. The story revolves around a young girl who is whisked away from her orphanage by a giant, only to discover that he is the world’s only BFG (Big Friendly Giant). The project will re-unite Spielberg with screenwriter Melissa Mathison (E.T.) and producer Frank Marshall.

Considering all of the projects he could have chosen to direct, this is not necessarily the most exciting, but some sources are saying that the untitled Cold War thriller he was planning with Tom Hanks might still happen first. Spielberg does seem to develop projects in twos, as he did with Jurassic Park and Schindler’s List or Munich and War of the Worlds. Are you excited to see Spielberg’s take on The BFG or is this a disappointing choice for his next project?