New Line Acquires Will Smith-Starrer ‘Collateral Beauty’; Rooney Mara Drops Off

New Line has acquired worldwide rights on Collateral Beauty. Will Smith stars as a New York advertising executive who experiences a personal tragedy and the subsequent unconventional plan from his colleagues to break him out of his depression. Overbrook Entertainment is coming aboard to co-produce the project alongside Anonymous Content, PalmStar and Likely Story. PalmStar is fully financing.

Written by Allan Loeb, the project will be directed by Alfonso Gomez-Rejon (Me And Earl And The Dying Girl). PalmStar Media and Likely Story paid $2.25 million for the script. Jackman exited the project last month. Rooney Mara has also dropped off the project now.

Principal photography is expected to begin in October. Anonymous Content’s Michael Sugar and Bard Dorros are producing with Loeb. PalmStar CEO Frakes, who negotiated on behalf of his company, will executive produce with Likely Story’s Anthony Bregman and Steven Pearl. The two companies already have collaborated on pics including American Ultra, Sing Street and The Whole Truth among others.

CAA and WME repped the domestic rights.

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