McDonald and LaChiusa have collaborated on several musicals together in the past.
The Shakespeare's Globe production ran on Broadway in 2013.
Streisand would love to star in the film, she revealed.
This video clip from "I Can Do Better Than That" features a make-out sesh and some pretty dangerous driving.
Shakespeare's comedy, along with five other Bard plays, will come to American cinemas via Globe on Screen.
Anna Kendrick and Jeremy Jordan star in the film based on Jason Robert Brown's stage musical, which is premiering at the Toronto International Film Festival.
Easy A's Bert V. Royal will pen the movie adaptation for CBS Films.
Additional star casting has been announced for the latest film remake of Rudyard Kipling's classic jungle tales.
The as-yet-unnamed Cold War spy thriller is based on the true story of CIA agent James Donovan.
Playwright Robert Schenkkan will adapt his work for the screen.