New Line is also eyeing Zach Braff to direct as a possible replacement for Ted Melfi, but negotiations are not under way. Braff directed the Kickstarter-funded comedy “Wish I Was Here.”
New Line is planning a spring shoot. Warner-based Donald De Line is producing and Tony Bill, who produced the original film, is executive producing.
The 1979 pic also starred Art Carney and Lee Strasberg and followed three retirees who wear Groucho Marx glasses to execute a bank heist. Directed by Martin Brest, the film was a solid performer for Warners with $30 million at the box office.
Caine and Hoffman have each won two Oscars while Freeman has won one. Caine is currently in “Interstellar,” Freeman was in “Lucy” and “Dolphin Tale 2” and Hoffman was in two films at the Toronto Film Festival: “Boychoir” and “The Cobbler.”
Hoffman is repped by WME.