20th century. Verona has become a huge metropolis, the Montagues and Capulets have turned from noble clans into mafia families, sword battles have been replaced by street shootouts. But Romeo and Juliet remain teenagers, and Shakespeare's divine lines now come from the mouths of street thugs and drug addicts. Times change, people change, and life changes, but true love is eternal.
One of Leonardo DiCaprio's early roles—he plays Romeo, of course. Interestingly, Kate Winslet auditioned for the role of Juliet but was categorically rejected (a year before "Titanic").