Disney Studios has cast newcomers Alexander Molony and Ever Anderson as Peter Pan and Wendy for its live-action movie titled Peter Pan & Wendy.

Molony, a native New Zealand actor, and Anderson, daughter of actor Milla Jovovich and director Paul W S Anderson, will play the title roles in the re-imagining of the 1953 animated classic, say reports.

The story of the film, based on JM Barrie's book, will revolve around Peter, a boy who wouldn't age and Wendy, a girl who accompanies him to the magical world of Neverland.

Though it was initially said that Peter Pan & Wendy will be released on Disney+, reports have now emerged that the release will be theatrical.

Peter Pan is the latest live-action remake of a classic Disney animated film, following this month's remake of Mulan.