DreamWorks has bought the rights to
Action News by outbidding several other studios. According to Variety, the comedy will star 'Saturday Night Live' veteran Will Ferrell, who is expected to be paid close to $4 million to star in the newsroom farce he co-wrote with Adam McKay.
Ferrell will play a pompous newscaster in the 1970s who's matched with an ambitious female colleague who is actually a talented journalist. He then comes to the stirring realization that his perfect hair and mustache, and the ability to read from a TelePrompTer, might not be good enough at his Portland, Ore., TV station.
McKay, the former head writer of SNL will make his directing debut on the film. Shooting begins in July.