Madonna says she identifies with Wallis Simpson (AP)

VENICE, Italy ? Madonna says the success of the Oscar-winning "The King's Speech" gives audiences a point of reference for her new film, "W.E."

Madonna's sophomore directorial effort tells the story of Wallis Simpson, the two-time American divorcee for whom Britain's King Edward VIII abdicated his throne in 1936. It makes its world premiere out of competition Thursday at the Venice Film Festival.

Madonna says the two films examine the same historic period from distinct points of view. She also told a news conference that she identifies with Simpson, because fame often reduces celebrities "to a soundbite."

Madonna said she received support for the project from both her two director ex-husbands, Sean Penn and Guy Ritchie.

(This version CORRECTS the king's name.)

Source: http://us.rd.yahoo.com/dailynews/rss/movies/*http%3A//news.yahoo.com/s/ap/20110901/ap_on_en_mo/eu_venice_film_festival_madonna

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