20th Century Fox has come aboard to co-finance DreamWorks Studios‘ untitled Cold War spy thriller, one of two pics being helmed by Steven Spielberg. Fox also will distribute the film overseas, with DreamWorks partner Disney handling domestic. Tom Hanks stars in the pic, based on the true story of James Donovan (Hanks), the CIA attorney who is thrust behind the Iron Curtain when he is sent to negotiate the release of captured American U-2 pilot Francis Gary Powers. The Coen Brothers wrote the 1960s-set screenplay off Matt Charman’s original script.

Image (2) 20th_century_fox_logo__131009230834-275x154.jpg for post 741629As we told you earlier this week, Spielberg will shoot this one first before moving on to the children’s fantasy adventure The BFG; shooting on the spy thriller is set for September, with Disney setting a wide release of October 16, 2015. It’s possible with both projects in active development that they could be shot back-to-back, which has been Spielberg’s style in the past with such productions as Jurassic Park and Schindler’s List in 1993, The Lost World: Jurassic Park  and Amistad in 1997, War Of The Worlds and Munich in 2005, and War Horse and The Adventures Of Tintin in 2011. BFG has been given a July 4, 2016, release date.

Spielberg, Marc Platt and Kristie Macosko Krieger are producing the spy drama, with Adam Somner and Daniel Lupi executive producing.