Paramount Vantage, Schumacher in 'News' biz

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Paramount Vantage is stopping the presses for "Breaking News," a remake of a Hong Kong action movie that Joel Schumacher is in negotiations to direct. Alex de Rakoff is writing the script for the movie, which will be produced by Gold Circle's Paul Brooks.

The story is set in motion when a TV news unit broadcasts live an embarrassing defeat of a police battalion by five bank robbers in a ballistic showdown. While on a separate investigation and stakeout in a run-down building, a detective discovers the hideout of the robbers. But the situation is complicated by an inspector who, in order to beat the media at its own game, decides to turn the stakeout into a breaking-news show.

The original screened Out of Competition at the 2004 Festival de Cannes and was directed and produced by acclaimed filmmaker Johnnie To.

Guy Danella is overseeing for Gold Circle.

"Breaking News" reunites Schumacher with Gold Circle, for which he is in post on the horror movie "Town Creek," which Lionsgate Films is distributing. He most recently directed "The Number 23," starring Jim Carrey. Schumacher is repped by CAA and attorney Michael Shenkman.

De Rakoff, repped by WMA and ACE Media, wrote "King of the Streets" for Universal, and he's writing "Have Gun Will Travel" for Paramount. Eminem is attached to star.
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