The project is an adaptation of novel by Thomas Pynchon and follows private investigator Doc Sportello (Joaquin Phoenix). He becomes involved in an investigation surrounding the disappearance of his ex-girlfriend's current flame and billionaire land developer, Mickey Wolfman. Owen Wilson will be portraying musician Coy Harlingen with Benicio Del Toro playing the P.I.'s attorney. No word on who Reese Witherspoon will be playing.
Paul Thomas Anderson is directing from a script he penned. He is also producing with JoAnne Sellar, Daniel Lupi and John Lesher of his Ghoulardi Film Co.