Emily Blunt is in negotiations to play the female lead in Bristol Bay Prods.' "The Great Buck Howard." Tom Hanks, John Malkovich and Colin Hanks star.

Written and directed by Sean McGinly, the story revolves around a luckless magician and his assistant who struggle to reinvigorate his career. Blunt will play a self-assured publicist hired by Buck Howard (Malkovich) to publicize an event that will put him back on the map.

The film began shooting Monday in Los Angeles.

Hanks and Gary Goetzman are producing through their Playtone Prods. banner. Marvin Acuna, Marina Grasic, Steven Shareshian and Jan Korbelin are executive producing.

Jackie Levine is shepherding the project for Bristol Bay.

Blunt, whose breakout comedic performance in "The Devil Wears Prada" earned critical praise, also starred in the 2004 coming-of-age story "My Summer of Love." She next stars in Revolution's horror-thriller "Wind Chill."

She is repped by CAA and Ken McReddie in the U.K.