UPDATED 6/26/17 – The Nightcrawler reunion picture is indeed a go with plans for director Dan Gilroy to re-team with actors Jake Gyllenhaal and Rene Russo for a currently untitled genre film set in the art world. Today comes word, via Deadline, that Netflix has picked up the project following an auction that expressed many interested buyers. Netflix will also grant the film a small theatrical run (presumably in hopes to attract awards buzz) alongside its run on through their streaming service. Notably, Gyllenhaal appears in another Netflix title – the eagerly anticipated Okja (which made its world premiere at the 2017 Cannes Film Festival), which will premiere on the streaming giant this coming week. No word yet on when the title may start production.

EARLIER: Fans of the 2014 newsroom horror story Nightcrawler take note: a reunion may be in the works between writer-director Dan Gilroy and stars Jake Gyllenhaal and Rene Russo. The critically admired award winning film was a success story a few years back and a team up with that feature’s creatives would likely stoke interest in the industry.

While details on the currently untitled project are largely unknown, Deadline (who broke the story) suggests the developing title would revolve around the art world. Gilroy broke out in a major way making his directorial debut with Nightcrawler and is currently filming a new crime drama entitled Inner City (starring Denzel Washington, Colin Farrell and Carmen Ejogo) which Sony will release next year. Gilroy is a veteran screenwriter behind such works as Reel Steel and The Bourne Legacy.

Nightcrawler centered on a depraved con man (Gyllenhaal) who found his proverbial calling in filming graphic crime scenes and selling the footage to a local news station. The topical morality play proved a critical darling in the fall of 2014 and earned a striking $38 million worldwide – a strong number for a dark film that cost a reported $8 million to make. Gilroy earned an Oscar nomination for penning the screenplay while Gyllenhaal earned a Golden Globe, BAFTA and SAG nomination for his transformational performance; Russo (who is married to Gilroy) earned a BAFTA nod. The film also took home two Independent Spirit Award – Best First Feature and Best Screenplay.

Gyllenhaal will next be seen in the Netflix feature Okja and the Boston Marathon bombing survival tale Stronger. He is also set to star opposite Joaquin Phoenix and Nightcrawler co-star Riz Ahmed in the western The Sisters Brothers and headline The Division alongside Jessica Chastain. Russo recently co-starred in the comedy hit The Intern and will next be seen in the comedy Villa Capri.

We will stay tuned to the latest.