Warren Beatty's latest project has moved from Paramount Pictures to New Regency, Beatty told TheWrap Friday evening.
Beatty wrote, will star in, produce and direct the movie, which is about the reclusive billionaire Howard Hughes.
Beatty declined to comment on why the picture is no longer at Paramount. And he said the movie is about Hughes but is not a biopic.
Brad Weston, New Regency's president and CEO, told TheWrap Friday evening that Beatty and New Regency founder Arnon Milchan have been talking "for years" about making the movie.
He said New Regency recently acquired the picture.
A spokesman for Paramount also confirmed the picture's move.
New Regency is partly owned by and has a distribution deal with Fox.
There had been talk that Alec Baldwin and Jack Nicholson were circling roles in the movie.
Paramount's chairman and CEO, Brad Grey, announced in June that the Oscar-winner would make the film.
At the time, Grey issued a statement saying, "Warren's script is quintessentially Beatty, elegantly written and wonderfully entertaining,. It is our privilege to have one of the great artists in the history of the film industry come home to Paramount."
The 74-year-old Beatty won the Academy Award for directing the 1981 "Reds." He last directed 1998 "Bulworth," which he also starred in, wrote and produced. Fox distributed that.
The Howard Hughes project is expected to begin filming later this year.
Martin Scorsese's 2004 "The Aviator" is a Hughes biopic.