The social satire reunites the director with Hugh Grant. The two have previously worked together on About a Boy.
Discussions are going well for Dennis Quaid (In Good Company) and Chris Klein (American Pie) who may also join the cast. Mandy Moore is also in negotiations for the film.
American Dreamz will be a satirical look at the world of politics and business.
Production on the movie is set to begin in July. Grant will play a television broadcaster, while Quaid will play the president of the United States who is going through a rough time.