“La La Land” fans are in for a treat: Variety reports that Damien Chazelle is prepping his latest film, the 1920s Hollywood themed “Babylon,” and among the talent circling the project is his “La La Land” leading lady, Emma Stone. Should the movie get off the ground, it would be a happy reunion for the two after their fruitful prior collaboration.

Exact details are slim at this stage, but “Babylon” is believed to explore Hollywood during the transition from silent films to “talkies,” utilizing a mix of real and created characters. No details are currently known about who Stone is looking to play. Estimates put the cost for the film at $80-100 million, a steep ask for a period piece in the current market, especially after Chazelle’s last film, “First Man,” lost money in spite of strong reviews.

Variety notes that Lionsgate, the studio that released “La La Land,” is among the top contenders to pick up the project. Considering Chazelle’s dazzling musical made the studio over $446 million worldwide in 2016, their enthusiasm is to be expected. However, Paramount is also said to be making big moves to acquire the project and would be better able to provide the necessary budget.

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No other names are mentioned alongside Stone in the report, but Chazelle is said to be pursuing an A-list ensemble cast.

Chazelle is currently working on “The Eddy,” a Netflix series set in a Paris music club, and a secret series for Apple TV+. Stone will next return for the horror-comedy sequel, “Zombieland: Double Tap,” in October, and is slated to play a young Cruella de Vil in a live-action “101 Dalmatians” prequel at Disney.

Chazelle won the Academy Award for best director for his work on “La La Land” in 2017 while Stone won for best actress.

Emma Stone
Emma Stone is pictured at an Academy event. Kevin Winter/Getty Images