The site adds that Natalie Portman is being eyed to play Hanks' daughter in the pre-WWII tale and Hazanavicius is preparing to work on a draft with a writer that will soon be hired.
Here's a description of the book:
The time is 1933, the place, Berlin, when William E. Dodd becomes America’s first ambassador to Hitler’s Germany in a year that proved to be a turning point in history.
Suffused with the tense atmosphere of the period, and with unforgettable portraits of the bizarre Göring and the expectedly charming--yet wholly sinister--Goebbels, In the Garden of Beasts lends a stunning, eyewitness perspective on events as they unfold in real time, revealing an era of surprising nuance and complexity. The result is a dazzling, addictively readable work that speaks volumes about why the world did not recognize the grave threat posed by Hitler until Berlin, and Europe, were awash in blood and terror. [Amazon]