UTV Motion Pictures and 20th Century Fox are teaming up for the co-production of director M. Night Shyamalan's latest film, The Happening.

According to The Hollywood Reporter, the film revolves around issues related to man and his relationship with the environment. The deal entails UTV and Fox equally sharing the $57 million budget and being equal partners in all revenue streams of the film, which starts shooting this August

The Happening is scheudle for a 2008 summer release in Philadelpain. will be shot around Shyamalan's hometown of Philadelphia and other locations on the East Coast.