Media Rights Capital and Universal Pictures have teamed up to co-finance the crime pic “Highwaymen” with John Lee Hancock (pictured) on board to direct.

The two companies had previously teamed on the laffer “Ted.” Universal will handle worldwide distribution as it did on “Ted.”

Deadline Hollywood broke the news of the film which follows the Texas Rangers that pursued and eventually killed  Depression era bank robbers Bonnie & Clyde.

John Fusco penned the script. Production is set to start in early 2014.

Hancock’s next film”Saving Mr. Banks,” starring Tom Hanks and Emma Thompson bows in December. Hancock is repped by CAA and Fusco is repped by UTA.