The screenplay follows Eddie Mannix, a Los Angeles fixer who works for the various major studios to protect the stars of the day. The character is loosely based on famed 1950s P.I. Fred Otash, a spy who worked for Confidential Magazine, gathering dirt on the rich and famous with his infamous wiretapping techniques. Fred Otash began his career as a lifeguard, then became a cop before taking on private investigator work.
Most studios of the time used internal security to protect the image of their stars, a lot of whom were under contracts for a certain amount of movies. All of the major studios had their go-to men used to stop the spread of any scandalous stories that were on the verge of breaking. Big news of the day included romantic affairs, drug use, DUIs, and arrests. For any story that could seriously threaten a star's career, the fixer would use payouts and strong-arming to defuse a situation, using any means necessary.
Hail Caesar will take place in this same sordid world, working against the backdrop of the old Hollywood star system. The production is just now starting to come together.
While no screenwriters are mentioned, it's likely that the duo is penning the movie themselves. It is not known if the story will include actual big stars of that time period.