The Hollywood Reporter says New Line Cinema has acquired Ilion Animation Studios' $60 million feature Planet 51 from Handmade Films International.
Written by Joe Stillman (Shrek), the story is set on Planet 51, whose inhabitants live in fear of an alien invasion. Their paranoia is realized when astronaut Capt. Charles "Chuck" Baker arrives from Earth. Befriended by a young resident, the astronaut has to avoid capture in order to recover his spaceship and return home.
The film is produced by Ignacio Perez Dolset, directed by Jorge Blanco and co-directed by Javier Abad and Marcos Martinez, who worked with Blanco on the worldwide best-selling video game "Commandos."
Planet 51 is in production and scheduled for completion in March 2009. A search for an A-list voice cast is under way.