Production is scheduled to star in early 2017.
Cooper will helm and star in the film, which will mark his directing debut. He will also produce through his 22 Green banner along with Jon Peters, Billy Gerber, and Basil Iwanyk.
Cooper had been meeting with dozens of actresses for the role after Beyonce bowed out due to scheduling conflicts with her latest tour. Sources reveal that Gaga was high on the actor’s list from the get-go.
Warner Bros. declined to comment on the casting.
The project, based on William Wellman’s 1937 film starring Janet Gaynor and Fredric March, centers on a fading movie star who helps an aspiring actress while his own career spirals downward.
This marks the third time the film has been remade, with the most recent version starring Barbra Streisand and Kris Kristofferson. Cooper came on as director following his work with Clint Eastwood on the box office smash hit “American Sniper.”
Eastwood struggled to get the film made for years and eyed Cooper for the role of the fading movie star. He eventually left the project, but suggested to Cooper that he try directing the pic since the actor was actively seeking his first directing job.
With Gaga’s commitment, the film is now the closest it has come to a greenlight. The studio is eyeing a February 2017 production start date.
Gaga has already made a name for herself as one of the world’s biggest pop stars, but has been focusing more in recent years on her acting career. She is coming off an acclaimed performance in “American Horror Story: Hotel,” which earned her a Golden Globe for best actress in a miniseries. Gaga also nabbed an Oscar nomination for her song “Til It Happens To You” from the documentary “The Hunting Ground.”
She is repped by CAA.