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Deadline confirms that Warner Bros secured the auction for the Jay Roach-directed project, which will cast the two actors as rival candidates in an election.
Roach is best known for directing the comedies Meet The Parents and this year's Dinner For Schmucks.
The currently-untitled comedy will be written by Chris Henchy and Shawn Harwell, and is expected to be released to tie in with the 2012 Presidential elections.
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