The film will start shooting in September in Berlin and New York with Fox and DreamWorks co-financing. The U.S. release has been set for Oct. 16, 2015.
Joel and Ethan Coen have been writing the script for the project, revising Matt Charman’s script. Marc Platt and Kristie Macosko Krieger will produce with Spielberg. Adam Somner and Daniel Lupi will exec produce.
The untitled project is based on the true story of James Donovan, whom Hanks will portray. Donovan was the American attorney enlisted by the CIA during the Cold War to surreptitiously negotiate the 1962 release of Francis Gary Powers, the U2 spy plane pilot who had been shot down over Russia two years earlier.
Ryan will play the Donovan’s wife. Mark Rylance came on board the project last month.
In mid-April, Variety reported that Hanks had come on board the project. It’s the first directing gig for Spielberg since “Lincoln,” which was filmed in late 2011.