Joel Hopkins, who directed the 2001 UK film Jump Tomorrow, wrote the screenplay and will direct the story of a down-at-heel man who finds a new companion while attending his daughter's wedding in London.
Tim Perell of Process and Nicola Usborne will produce and Overture's executive vice president of productions and acquisitions Robert Kessel will oversee production. Jawal Nga will serve as executive producer.
Overture holds worldwide rights to the project.
'We're thrilled to be bringing together these two celebrated and beloved actors in this touching story,' Overture's chief operating officer Danny Rosett said. 'Joel has written a beautiful script and we're delighted to help him bring it to light.'
'I'm grateful to Chris [McGurk, chief executive officer] and Danny for getting behind this film,' Hopkins said. 'While writing the script, it was always my dream for Dustin and Emma to play these characters but I never imagined I'd actually be fortunate enough to see that dream come true.'
Overture plans to release eight to 12 films a year and the slate so far features the drama Ferris Wheel with Charlize Theron, 105 Degrees And Rising which is being co-financed with Echo Lake Entertainment, and Mad Money starring Diane Keaton, Queen Latifah, and Katie Holmes.