Mandalay Pictures will produce the story of three young women who vow to change their lives over the course of a year.
Gina Wendkos will adapt the screenplay, which will focus on and expand upon one of the three storylines.
Mandalay Pictures president Cathy Schulman and senior vice president Scarlett Lacey brought the picture to Universal. Vice president of production Kristin Lowe and creative executive Maradith Frenkel will oversee the project for the studio.
Tennant most recently directed Fool's Gold and his body of work includes Hitch and Sweet Home Alabama.
Wendkos wrote The Princess Diaries, The Princess Diaries 2: Royal Engagement, Coyote Ugly and Jersey Girl.
Mandalay's current projects include Universal's The Birds with director Martin Campbell and Naomi Watts and Focus Features' The Piano Tuner with writer-director Werner Herzog.
Tennant, Wendkos and Weisberger are represented by CAA.