Joaquin Phoenix, M. Night Shyamalan Reteam for Jason Blum-Produced Project

Joaquin Phoenix is in negotiations to star in an untitled film that would reunite him with his “Signs” director, M. Night Shyamalan.

Shyamalan would direct with Jason Blum on board to produce through his Blumhouse Pictures banner.

As with any Shyamalan project, plot details are under lock and key, but the project will likely include elements of the supernatural. Given Blum’s involvement, the project’s budget will probably be relatively small, which would be more on par with Shyamalan’s “The Visit,” another Blum-produced pic that bows next month.

Marc Bienstock also produces, while Ashwin Rajan and Steven Schneider are on board as exec producers. Production is expected to start this November in Philadelphia. The film is currently not set up at a studio.

Phoenix, who was most recently seen in the Woody Allen pic “Irrational Man,” has a track record of being choosy about roles. The last time he starred in a Shyamalan pic (“Signs”), though, it resulted in one of the biggest hits of both men’s careers, bringing in $408 million worldwide.

Besides “The Visit,” Blum most recently produced “The Gift,” starring Joel Edgerton and Jason Bateman.

Phoenix and Shyamalan are both repped by WME. Deadline Hollywood first reported the news.

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