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The actor will star opposite Steve Carell in the film written by Dan Fogelman and helmed by I Love You Phillip Morris co-directors John Requa and Glenn Ficarra.
Bacon will play the role of a man who is having an affair with Carell's wife.
The film also stars Julianne Moore as Carell's unfaithful wife and Ryan Gosling as his life coach.
Production of the comedy will begin shooting next month.
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