Deadline
http://www.deadline.com/2012/02/beast-master-gary-fleder-to-produce-one-beauty-the-beast-pilot-direct-the-other/
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Here are a few more details per Deadline: Despite the identical title and origin — they can both be traced back to the classic fairy tale and use loosely its mythology and archetypes — the two “Beauty and the Beast” projects are very different. The ABC/ABC Studios one, written by Jonathan E. Steinberg, is described as a fantasy realm adventure and a period reimagining of the fairy tale set in a mythical, dangerous world. The CW/CBS TV Studios version, written by Jennifer Levin and Sherri Cooper, is loosely based on the 1980s CBS series starring Linda Hamilton and Ron Perlman and is a modern-day romantic love story with a crime procedural element.
ABC’s version was developed through Fleder’s ABC Studios-based Mojo Films and was never intended as a directing vehicle for him. He and his development executive Mary Beth Basile are executive producing the pilot and potential series with Steinberg. As for The CW, Fleder is attached as director and executive producer for the network’s “Beauty” pilot only.
Pretty bizarre, right? Look for more soon!