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The 20th Century Fox film is based on Jane Heller's novel of the same name and centres on a successful businesswoman who is on the brink of divorcing her washed-up sports star husband.
Laura Bickford, who worked with Del Toro on Traffic and Che, will serve as a producer alongside Julie Yorn.
Diaz can next be seen starring with Tom Cruise in Knight And Day, while Del Toro has a cameo role in Sofia Coppola's upcoming Somewhere.
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