Leonardo DiCaprio’s next project to be a new Paul Thomas Anderson film

A new film by acclaimed director Paul Thomas Anderson is in the works and is anticipated to be one of his most expensive projects to date. Variety reports that Oscar-winning actors Leonardo DiCaprio and Sean Penn are now confirmed to star in the yet-to-be-titled film, alongside Regina Hall. Warner Bros. is expected to produce the film, despite initial attempts to keep their involvement under wraps.

Rumors of DiCaprio and Penn’s involvement have been circulating for some time, and filming is scheduled to begin this month in California, a common location for Anderson’s films. The film is set in a modern context, but further details remain confidential. Industry insiders estimate the film’s budget to be close to $100 million USD.

Anderson, known for classics such as Phantom Thread and Boogie Nights, is a frequent Oscar nominee and is widely regarded as a masterful filmmaker. Despite his reputation, his films have not always been commercially successful. For instance, Licorice Pizza failed to recover its $40 million USD budget, resulting in a significant loss. The inclusion of DiCaprio and Penn is expected to attract a larger audience.

The film’s plot and release date are yet to be announced. More information will be released in due course.