EXCLUSIVE: Ryan Gosling and Emma Stone are circling La La Land, which will now be Damien Chazelle’s follow-up to his Oscar-nominated pic Whiplash. Lionsgate’s contemporary romantic musical was to reunite Chazelle and his Whiplash star Miles Teller, but Deadline understands Teller has now moved on. No deal has been finalized for either Gosling or Stone, but all sides are working to make this happen. The plan is for this to go before cameras in the fall featuring two of the industry’s top actors.

Jan. 16-26, 2014Chazelle wrote La La Land before Whiplash. It is described as an old fashioned musical set in contemporary Los Angeles and centers on a love story between a jazz pianist and an aspiring actress.

The original attachment had Teller and Emma Watson, but she has since departed to do Disney’s Beauty And The Beast. Gosling and Stone’s involvement arguably takes the project’s sizzle factor up a notch or two especially if they confirm their deals. Having taken a brief sojourn with his directorial debut Lost River, Gosling is firmly back in the acting saddle with Adam McKay’s The Big Short opposite Christian Bale and Brad Pitt; Terrence Malick’s Weightless and Shane Black’s The Nice Guys opposite Russell Crowe all in the pipelines. Gosling is also in talks for Guillermo del Toro’s The Haunted Mansion. He is repped by LBI and Anonymous Content.

Stone was nominated for a Best Supporting Actress Oscar for her role in Best Picture winner Birdman and played Sally Bowles in Broadway’s revival of Cabaret. She will next be seen in Cameron Crowe’s Aloha, which hits theaters May 29 from Columbia Pictures in North America and 20th Century Fox internationally. After that, she’s appearing in Woody Allen’s pic Irrational Man with Joaquin Phoenix. It will be released July 17 by Sony Pictures Classics. She is repped by WME, Anonymous Content and attorney PJ Shapiro.