There are now officially two Jokers in town.Joaquin Phoenixhas reportedly closed his deal to play The Joker in a standalone Warner Bros. film, which now has the greenlight to start production in September, perTHR. Word first surfaced abouta year agothat Warner Bros. was developing a Joker origin movie from director/co-writerTodd Phillipsthat would not be part of the established DC Extended Universe, but would instead offer a unique spin on the comics character in a one-off feature. Phoenix entered talks to take on the rolethis past February, but this was far from a done deal as the Oscar-nominated actor had previously been in prolonged talks to lead Marvel’sDoctor Strangebefore ultimately backing out.

But now Phoenix has reportedly finalized his deal to play Joker in this untitled standalone, which Phillips—the filmmaker behindThe Hangovertrilogy and the crime filmWar Dogs—will direct from a script he co-wrote withScott Silver. The film is described as “an exploration of a man disregarded by society [that] is not only a gritty character study, but also a broader cautionary tale.”

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The project’s budget will be in the $55 million range, which is significantly lower than most superhero movies and suggests a more risky take on the comic book adaptation a la 20th Century Fox’s R-ratedDeadpoolandLogan. It’s unclear if this Joker film will indeed be R-rated, but the film is said to be darker and more experimental in tone and content, likened more to a crime drama than a traditional superhero movie.

Warner Bros. has also not yet announced a release date, but THR says there’s a chance the film could be ready for release as soon as late 2019. It’s possible the studio makes a confirmation at its Comic-Con panel a week from Saturday, but it’s also possible the studio keeps things under wraps for now. Under new leadership, Warner Bros. is reportedly moving away from announcing a slew of superhero release dates far in advance, which some thought crippled the launch of the DCEU with rushed productions.

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The studio is also separately developinga Joker standalone filmwithJared Letoreprising his role fromSuicide Squad, but clearly Phoenix’s movie is going first. There’s no guarantee that Leto film actually happens, and indeed the Oscar-winning actor recentlysigned on to leadSony’sSpider-ManspinoffMorbius, so he’s not exactly sitting around waiting for his next DC turn.

When this Joker standalone was initially announced, it was revealed thatMartin Scorsesemight be onboard as a producer. That’s not happening at this point in time, butThe Wolf of Wall StreetproducerEmma Tillinger Koskoffis producing this film withRichard Barattaserving as an executive producer. Phoenix will next be seen onscreen inGus Van Sant’s dramaDon’t Worry, He Won’t Get Far on Foot.

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For a full list of all the DC movies currently in development,click here.

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