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Penn, Polley weigh ‘Water’ for Bigelow

Drama based on Shreve novel

Sean Penn and Sarah Polley are closing in on deals to climb aboard Canal Plus’ “The Weight of Water.”

The Kathryn Bigelow-helmed adaptation of Anita Shreve’s novel centers on two couples on a boat trip to a Scandinavian island. One member of the group is a journalist investigating a murder that took place on the island a century earlier.

Janet Yang, Joni Sighvatsson and A. Kitman Ho are producing the $16 million pic.

Originally set up by Yang at Phoenix Pictures with a heftier production budget, “Weight” was later put it into turnaround before Canal Plus stepped in as financier.

The film has no U.S. distributor.

Penn, whose recent credits include “The Thin Red Line” and “Hurlyburly,” stars in Woody Allen’s “Sweet and Lowdown,” which Sony Pictures Classics will release later this year.

Polley, who made a splash with her role in “The Sweet Hereafter,” has appeared in “Go,” “eXistenZ” and Miramax’s upcoming “Guinevere,” opposite Stephen Rea.

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