http://www.hollywoodreporter.com/live-f ... ook-718182
This follows NBC's live production of The Sound of Music last year, which was a huge hit.
Obviously Christopher Walken doesn't have the same broad appeal that Carrie Underwood does, but it's still a pretty big name. Apparently they'd asked Kristen Bell to play Peter (the role is traditionally played by a girl/woman) but she'll be busy with other projects.
And yeah to clarify, this is the musical version of the show.