Waterstone Entertainment is a brand spanking new production company that has been put together by producer Jeff Kalligheri (Lake Placid) and a Texas real estate developer named Steve Bowen. I know the questions you’re asking, and I’ve got the answers. Firstly, no, the new company’s logo doesn’t include Texas longhorns anywhere in its design. And secondly, yes, they are launching their brand by making a movie starring James Franco.

The Stare is set to be directed by Jay Anania (who previously worked with Franco in Shadows & Lies) and to star Franco and Winona Ryder. Perhaps piggybacking on the momentum of Ryder’s role in Black Swan, The Stare will be about a playwright whose mind begins to slip off into crazyland while she’s working on her next project. Over the course of the film things get so bad that she loses track of whether she is just having paranoid delusions, or if she really is at the center of a manipulative conspiracy. Franco will play one of the performers in her upcoming play. The film itself is set to begin shooting in New York on May 6.

No word yet on whether or not producers will have Ryder get knocked up by one of the grips during the lead in to next year’s Oscar race.

Source: Deadline Lubbock