Plot details have yet to be revealed. John Davis will produce via Davis Entertainment.
DiCaprio and Smith proved to be a winning team when “The Revenant” tallied a leading 12 nominations for the 2016 Academy Awards; DiCaprio is the frontrunner to take home the best actor Oscar after being nominated in the category three previous times. In addition, Paramount has optioned the YA climate change novel “The Sandcastle Empire” with DiCaprio on board to produce.
Smith also wrote 2007’s “Vacancy.”
The news was first reported by Deadline Hollywood.
Dave McNary contributed to this report.