Close will star with Ewan McGregor, who is currently starring in the London's West End production of "Guys and Dolls." The $57 million film adaptation of Andrew Lloyd Webber's musical is expected to be ready for release for Christmas 2006, the Sunday Telegraph reported.
The musical is based on Billy Wilder's 1950 film about the doomed romance between fading film star Norma Desmond and writer Joe Gillis. The 1950 film starred Gloria Swanson and William Holden.
Close made the role her own when she opened the Broadway stage production in 1994.