Pic follows a mild-mannered radio executive, played by Ferrell, who strives to become the best stepfather to his wife’s two children, with Wahlberg playing the freeloading father who gets in the way of that.
Sean Anders will direct from a script by Brian Burns, with revisions by Anders and John Morris, Chris Henchy, Adam McKay and Etan Cohen.
Morris will produce with Ferrell, Henchy and McKay through their Gary Sanchez Productions banner. Executive producers are Riza Aziz, Joey McFarland and David Koplan from Red Granite; Kevin Messick and Jessica Elbaum of Gary Sanchez; Anders; and Diana Pokorny.
Paramount and Red Granite Pictures will co-produce and co-finance. Paramount will distribute worldwide.
Slaughter can be seen next in the Warner Bros. pic “Focus,” starring Will Smith and Margot Robbie, which bows on Feb. 27, and has also recently joined the cast of Sundance TV’s “The Red Road,” starring Jason Momoa and Martin Henderson.
His other credits include “Max Steel” and “American Horror Story.”