Steven Spielberg's 'Bridge of Spies' Trailer: The Cold War Rests on Tom Hanks' Shoulders (Video)

"Something important has come up"

What happens when Steven Spielberg and The Coen Brothers team up? The answer is Bridge of Spies, a Cold War-era thriller rooted in the real life story of Francis Gary Powers, a U.S. pilot shot down in the Soviet Union in 1960.

Tom Hanks plays James Donovan, an insurance attorney tasked with negotiating a potential prisoner exchange with the Soviets, with the return of Powers relying on the U.S. surrendering Rudolf Abel (Mark Rylance).

Also appearing in the movie are Alan Alda and James Caan. Ethan and Joel Coen co-wrote the screenplay for the movie with Matt Charman. Spielberg, Marc Platt and Kristie Macosko Krieger produce.

Bridge of Spies is set for release Oct. 16.

4:55 pm, June 5 Corrected to remove reference to Kevin Spacey, who does not appear in the film.