From The Wrap:
Using the working title "Cinderella," the film is expected to deviate from the original fairy tale, although it's unclear how, or whether the new version will be released in 3D like the studio's reimagining of "Alice in Wonderland," which has grossed more than a billion dollars since it was released in March.
(You can read the whole article HERE.)
Amanda Seyfried-Raymond (of Mama Mia, who is currently at work with Twilight director on another fairy tale, The Girl with the Red Riding Hood) is rumored to be the star. (see article HERE and IMDB's article HERE).
You'll also see rumors in the articles linked to above regarding Angeline Jolie's rumored attachment to play the lead in Disney's other live-action fairy tale revisit, Maleficent - a live-action Sleeping Beauty.
But that's not all. Snow White is looking at a live-action revisit with the seven dwarves being cast as robbers once again, plus a dragon (not by Disney but a company called Relativity Media). The Wizard of Oz is looking at a revisit too by both Warner Brothers and Disney once again.
[Sidenote: if you enjoy speculating on actresses playing other Disney princesses and why they may - or may not - fit, have a look at this faux casting couch HERE.]
And yes - this is all due to Tim Burton's Alice in Wonderland, so you can thank (or blame) him. ;)