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film. now, 74 years after dorothy left oz, disney s revisiting the yellow brick road with oz the great and powerful. billing it as a prequel. it sets up things what happened in the famous story we re all so familiar with. reporter: this new oz is not a musical. what it lacks in show tunes it makes up for in modern 3-d and computer generated effects. disney s betting heavily on this gamble, spending an estimated $200 million just to produce the movie. what s at stake for the studio? for them, this is a big deal. not only is it iconic property that they re being entrusted with, they got a lot of money on the line. reporter: major money and creative hurdles. while the oz books by l. frank bomb are in the public domain, warner bros. owns the rights to the wizard of oz film and so several story elements in that movie, like dorothy s iconic ruby slippers are off limits to
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so several story elements like dor any s ruby slippers are off a limits to disney. the disney lawyers had to be on set to say, you re getting too close to the ownership of warner brothers. we have to be careful. reporter: will disney s interpretation of the land of oz alienate fans of the hollywood classic? not according to james franco who plays oz. we pay respect to a lot of the aspects that people expect and love about the world of oz. that s mainly taken from the books. then there is a fresh take on some of the characters. so you re getting, you know, enough of the old and enough of the new. reporter: while you won t see a tin man or scarecrow in this oz, the yellow brick road is in place along with the witches. and disney hopes the land of oz can once again turn movie magic into box office gold. by box office gold, this is what
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