Life Of Pi: According to The Hollywood Reporter, M. Night Shyamalan is in discussions to make his first film outside the Walt Disney Co. banner since his success with 1999's The Sixth Sense. He is talking with Fox 2000 about adapting, directing and producing Life of Pi, a project based on the best-selling novel by Yann Martel, sources said.

The novel, which won the Man Booker Prize for 2002, is a magical adventure story centering on Pi Patel, the precocious son of a zookeeper. Residents of Pondicherry, India -- Shyamalan's home town -- the family decides to move to Canada, hitching a ride on a freighter. After a shipwreck, Pi is found adrift in the Pacific on a 26-foot lifeboat with a zebra, a hyena, an orangutan and a Bengal tiger.

Stay tuned for more on this project!