The film is based on a screenplay by Stephen Jeffreys and follows Princess Diana during the last two years of her life and will apparently see her find “true personal happiness” and document her success as a campaigner and humanitarian.
Watts said in a statement that it will be an “honour to be able to play this iconic role – Princess Diana was loved across the world, and I look forward to rising to the challenge of playing her on screen.’
Director Hirschbiegel said he was “delighted to have such a truly exceptional actress who embodies the warmth, humanity and empathy of such a global icon as Princess Diana.’
Production will begin in the UK later this year. In the meantime, expect the story to dominate the front page of The Daily Express for the forseeable future.