The Island: According to The Hollywood Reporter, Warner Bros. Pictures is buying a stake in The Island. The studio has closed a 50-50 co-production deal with DreamWorks for the project, which will star Ewan McGregor and Scarlett Johansson for director Michael Bay.

DreamWorks had been looking for a studio partner on the project, and sources said it came down to Warners and Paramount Pictures, with Warners winning out. DreamWorks had been on a streak of co-productions with Paramount, partnering on such recent projects as Collateral, Lemony Snicket's A Series of Unfortunate Events, Paycheck and War of the Worlds. But DreamWorks has been in the co-production biz with Warners before on The Time Machine and A.I. Artificial Intelligence.

The deal with Warners for The Island will see DreamWorks handle domestic distribution and Warners handle international, with both studios coughing up half of the budget, which sources estimate to be somewhere in the $100 million range.

The Marc Haimes-shepherded project is due to head in front of cameras this month.

"Island" centers on a "harvested being" who suddenly becomes self-aware and tries to escape the utopian facility where he and others are being kept. Caspian Tredwell-Owen penned the original version.