Belushi's hard-partying life has been told before in the book, and subsequent film, Wired. Both a critical and box office bomb, the film has never been seen as an adequate telling of Belushi's compelling story, so no one is going to argue with a second attempt. (Although this version won't be based on the Bob Woodward book.) Belushi's widow, Judith Belushi Pisano, who published an oral history based on the comedian called "Belushi: A Biography" in 2005, will be an executive producer on the project.

No director has been announced yet; Phillips is currently preparing The Hangover 2 (his comedy Due Date comes out in November), while Conrad is scripting The Secret Life of Walter Mitty for Gore Verbinski, so this may have to wait until those two films are completed, or at least well on their way. Whenever this does begin moving forward, you can expect a looong audition process for the Belushi role, as it'll be highly, highly coveted. (I'd have to imagine an unknown is the way to go here, no?)

Source: The Hollywood Reporter