The film, which reunites Hanks with his "Captain Phillips" director Paul Greengrass, was one of the projects in development at Fox 2000. With Disney shutting down the division after its purchase of Fox, "News of the World" is now being set up at Universal, where Greengrass made his "Bourne" films.
The story, which is based on the novel by Paulette Jiles, is about a widower who travels from town to town in Texas announcing the latest news after the end of the Civil War.
He's hired to find a young orphan girl who was abducted and raised by a Native American tribe. As they travel the 400 miles back to her family in San Antonio, he questions his task and the motivations of his employers.
Fox 2000 titles that are already in production, including the thriller "The Woman in the Window" starring Amy Adams and Gary Oldman, and "The Art of Racing in the Rain," will now be released by Disney, according to The Hollywood Reporter.