Baz Luhrmann is turning 'Australia' into a six-part series

He said in a statement: "I originally set out to take the notion of the sweeping, 'Gone With the Wind'-style epic and turn it on its head - a way of using romance and epic drama to shine a light on the roles of First Nations people and the painful scar in Australian history of the 'Stolen Generations'.

"While 'Australia' the film has its own life, there was another telling of this story; one with different layers, nuances and even alternative plot twists that an episodic format has allowed us to explore.

"Drawn from the same material, 'Faraway Downs' is a new variation on 'Australia' for audiences to discover."

'Faraway Downs' will follow English aristocrat Lady Sarah Ashley (Kidman) as she inherits a large cattle ranch in Australia following the death of her husband.

Cattle barons look to take her land, and so she joins forces with a cattle drover (Jackman) to protect the ranch.

The series will be told through young Nullah (Brandon Walters), who is a bi-racial Indigenous Australian who is caught up in the 'Stolden Generations'.

Hulu Originals and ABC Entertainment president Craig Erwich added: "Baz is one of the world's great auteur storytellers, so revisiting Faraway Downs and experiencing his incredible film 'Australia' in this unique, new episodic format has been a revelatory and unique adventure.

"We look forward to taking viewers into the ranch and experiencing all of the stories that are both held within and continue to unfold there."