Joel Schumacher is in negotiations to direct Breaking News for Paramount Vantage, according to The Hollywood Reporter. The film is a remake of a Hong Kong action movie. Alex de Rakoff is writing the script.

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.

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Breaking News was released January 27th, 2006 and stars Richie Ren, Kelly Chen, Nick Cheung, Siu-Fai Cheung, Shiu Hung Hui, Suet Lam, Yong You, Haifeng Ding. The film is directed by Johnnie To.