NEW YORK (Variety) - Are musicals and Andrew Lloyd Webber making a serious comeback?

The playwright has been trying for years to get his musicals made into movies.

Now, nearly 15 years after selling his "Phantom of the Opera" rights to Warner Bros., his Really Useful Group has bought them back to make the film independently.

"I have got it back, and now seems to be the right time, with 'Chicago', and 'La Boheme' doing well on Broadway," said Lloyd Webber, who will executive produce.

Lloyd Webber has already made overtures to director Joel Schumacher to direct, from a script they worked on together years ago.

Warner Bros. keeps first crack to be domestic distributor and Odyssey will sell foreign rights for a film that should start in late 2003 or 2004. "Opera" has grossed $2.5 billion (1.56 billion pounds).

Schumacher has no deal, but has long wanted to make a musical.

His "Phantom" quest was hindered by Lloyd Webber's divorce with Sarah Brightman, who starred with Michael Crawford in the stage version and wanted to star in the film.

The field is now clear to cast a male star and his young female ingenue.

"Evita" star Antonio Banderas has long pined to wear the mask, but other rumored candidates include Hugh Jackman, though he has got a Broadway commitment next autumn.

News of the deal reignites other musical-to-movie talk.

A strong candidate for feature treatment would seem to be "Rent", which Miramax won in 1996 in a fevered bidding battle.

But the movie stalled and a proposed TV version was refused by the estate of creator Jonathan Larson.

And next up might be Tony-winner "Contact", with choreographer-director Susan Stroman directing at Focus.

"'Moulin Rouge' and 'Chicago' showed for the first time since 'Grease' that dance on film can be thrilling and popular," said producer Laurence Mark.