By Justin Kroll, Variety
Sources tell Variety Paramount Pictures has acquired the remake rights to the acclaimed German film with Nicholson attached to play the title character opposite Kristen Wiig, who will play his daughter.
Paramount had no comment.
Nicholson last appeared in a supporting role in the 2010 James L. Brooks-helmed romantic-comedy How Do You Know, but his last starring role was in 2007’s The Bucket List.
Adam McKay, who recently directed The Big Short for the studio, will produce along with Will Ferrell and Jessica Elbuam of Gloria Sanchez Productions. Maren Ade, writer and director of the original Toni Erdmann, will exec produce the remake along with producers Jonas Dornbach and Janine Jackowski.
The original film starred Peter Simonischek and Sandra Huller and followed a practical joking father who tries to reconnect with his hard-working daughter by creating an outrageous alter ego and posing as her CEO’s life coach.
Paramount is still looking to attach a director and writer.
Nominated for Best Foreign feature at the 2017 Academy Awards, Toni Erdmann has been the movie to beat in the international category after winning several awards including a Golden Globe for Best Foreign film.
Sony Pictures Classics acquired U.S. rights to Toni Erdmann following its debut last year at the Cannes Film Festival. It’s currently playing in limited release domestically.
[Updated at 5:05 p.m. PT with news of Wiig’s involvement.]