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OTRC: 'The Great Gatsby' film now in production

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Production on Baz Luhrmann's film "The Great Gatsby" is underway in his native Australia.

The movie is based on F. Scott Fitzgerald's 1925 novel of the same name. The film stars Leonardo DiCaprio as Jay Gatsby, Carey Mulligan as Daisy Buchanan, Isla Fisher as Myrtle Wilson and Tobey Maguire as Nick Carraway, the narrator.

"The Great Gatsby" has a budget of $126 million, the Hollywood Reporter said. Filming began in late August, production notes show. The film is set to be released in both regular format as well as in 3D in the United States in November 2012.

Luhrmann is also the director of the 2001 musical film "Moulin Rouge!," which stars Nicole Kidman and Ewan McGregor. He also directed DiCaprio in the 1996 movie "Romeo + Juliet."

Australian actor Joel Edgerton, who also stars in the upcoming film "Warrior," portrays Tom Buchanan. Luhrmann said on his website in May that the actor had "five-star acting chops" and could "hold the screen against Leonardo DiCaprio in the appropriate age group" in the "big dramatic showdown scenes between Gatsby and Tom."

Elizabeth Debicki, who just recently began her on-screen acting career, has been cast as Jordan Baker, a famous golfer and aloof love interest of Carraway.

"Elizabeth's grasp of the material and her chemical connectivity to Tobey Maguire, in addition to her striking, athletic appearance, had us in a place where we were fully confident and ready to take the leap of giving the role of Jordan Baker to what, I guess, people would term 'a discovery," Luhrmann said.

Robert Redford played Gatsby, a shady millionaire, and Mia Farrow played his character's love interest Buchannan, who Gatsby courted and lost due to their differences in their social statuses, in a 1974 film that was based on a screenplay by Francis Ford Coppola.

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