No, I'm not talking about The Golden Compass movie. The Guardian has reported that Philip Pullman has given (free of charge) the film rights to his novel, The Butterfly Tattoo, to a small independent Dutch company that promotes educational projects for young people. Dynamic Entertainment now has the option to adapt the book, in exchange for 10% of any eventual revenues. Filming is expected to begin in August. The Butterfly Tattoo was originally published in 1992 as The White Mercedes (by which title it is available in the US) and is described by Pullman as a tragedy.
You can find out more about the film project at the Dynamic Entertainment website. They're inviting people to invest in the project, so do take a look.