James Franco and sexy Mila Kunis take off on a fantastical voyage in a new trailer for “Oz The Great and Powerful,” Disney’s re-imagining of the L. Frank Baum classic. This time the tale focuses on the wizard.

The 1939 classic “Wizard of Oz,” with Judy Garland, Ray Bolger, Jack Haley and Bert Lahr, set an almost impossibly high bar for any effort to remake the fairy tale story. But this film is different.

Instead of focusing on the travails of Dorothy, the farm girl from Kansas who has big dreams, it will tell the story form the point of view of the wizard, Oscar Diggs, played by Franco.

The Sam Raimi-directed film, which also stars Rachel Weisz, Michelle Williams and Zach Braff, picks up with Diggs working as a small-time circus magician with dubious ethics. One day he is swept up in a balloon from dusty Kansas and lands in the Land of Oz, where he is proclaimed a wizard.

He thinks he’s hit the jackpot until Oz’s three witches, Theodora (Kunis), Evanora (Weisz) and Glinda (Williams), grow suspicious that he is not the great wizard everyone’s been expecting. He not only has to convince the witches of his power, but must use all of his tricks to help Oz resolve its problems.

In the end, Diggs transforms himself not only into the great and powerful Wizard of Oz but into a better man as well, according to Disney’s snyopsis.

“Oz The Great and Powerful” is produced by Joe Roth and written by Mitchell Kapner and David Lindsay-Abaire. The film opens in U.S. theaters on March 8, 2013. Check out the trailer below: