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And to clarify, this is not a comedy that's currently lacking a title. Untitled Comedy is the title. The film, which is currently in production, will be composed of a series of loosely related comedic sketches, featuring a plethora of different actors and directors. If you think it sounds a little bit like those atrocious Movie movies (you know, the ones brought to you by 2 of the 6 writers of Scary Movie), rest assured that Farrelly and co. have assembled a heap of high-end talent to bring their sketches to life. Stepping in front of the camera will be Elizabeth Banks, Gerard Butler, Kieran Culkin, Hugh Jackman, Johnny Knoxville, Christopher Mintz-Plasse, Chloe Moretz, Liev Schreiber, Sean William Scott, Tony Shalhoub, Emma Stone, Matt Walsh, Patrick Warburton, Naomi Watts, and Kate Winslet. Behind the camera, Elizabeth Banks, Bob Odenkirk, Brett Ratner, Griffin Dunne, and Farrelly himself have already helmed sequences, with more directors and cast slated to climb aboard as things progress.

The film is said to be in the mould of classic sketch comedies like John Landis' The Kentucky Fried Movie, the 1977 flick penned by spoof masters David Zucker and Jim Abrahams (Airplane!) and Ken Shapiro's 1974 skewering of television, The Groove Tube. Hopefully, that paints a picture for you. Hit the jump for the full press release and my thoughts on the project.

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Producing alongside Farrelly and Relativity are independent production company GreeneStreet Films as well as Charles Wessler, who has collaborated with Farelly on such films as There's Something about Mary and Dumb and Dumber. While I'm generally wary of movies that employ this kind of sketch structure, Wessler offers a rock solid argument for why this one will be a success. "We all sat down and came up with what we think is a hilarious through-line for the movie...Given the amount of pot I had smoked, at least I think it is hilarious." If nothing else, with the quality of talent in front of the camera and this guy behind it, I'm really curious to see what they end up with.

Here's the full press release:

RELATIVITY ANNOUNCES PRODUCTION ON "UNTITLED COMEDY" WITH PETER FARRELLY, CHARLES WESSLER AND GREENESTREET FILMS

LOS ANGELES, CA, MARCH 11, 2010 - Relativity Media, LLC (RML) announced today it has begun production on the UNTITLED COMEDY project. In January, Relativity Media came aboard to co-finance and co-produce the project, and will arrange distribution through one of their studio partners.  Production will continue thru late May.

Peter Farrelly, Charles Wessler, GreeneStreet Films' John Penotti and Relativity Media's Ryan Kavanaugh are producing the project. Executive producers are Tim Williams of GreeneStreet Films and Tucker Tooley of Relativity Media.  Co-producers are Tom Gormican and Marc Ambrose. Rocky Russo and Jeremy Sosenko also serve as associate producers. Witness Protection Films also serves as a production company partner.

Originally set up at Overture Films, the project kicked into high gear after the producers met with Relativity Media last December. The brainstorming session lead to a revamp of the central premise of the film.  The new team created the template for a unifying storyline for a series of sketch comedies in the vein of the 1970s hits Kentucky Fried Movie and Groove Tube.

"Relativity has been the perfect partner through the extraordinarily complicated process of putting this movie together.  We are thrilled to be underway," commented Farrelly.

The filmmakers who have already completed their work are Peter Farrelly, Brett Ratner, Elizabeth Banks, Bob Odenkirk, and Griffin Dunne.  Additional directors will be announced shortly.

The growing cast includes, Elizabeth Banks, Gerard Butler, Kieran Culkin, Hugh Jackman, Johnny Knoxville, Christopher Mintz-Plasse, Chloe Moretz, Liev Schreiber, Sean William Scott, Tony Shalhoub, Emma Stone, Matt Walsh, Patrick Warburton, Naomi Watts, and Kate Winslet. The producers will announce additional cast members as further deals are solidified.

"We all sat down and came up with what we think is a hilarious through-line for the movie," said Wessler. "Given the amount of pot I had smoked, at least I think it is hilarious."

Penotti added, "This has been one of the most fun and challenging projects we have ever undertaken.  We are completely blown away by the caliber of talent that this project has attracted.  It is a testament to the quality of Charlie and Pete's original concept."

Farrelly and Wessler are long time collaborators, working on many of the classic Farrelly Brothers comedies including There's Something About Mary, Dumb and Dumber and Shallow Hal.

ABOUT GREENESTREET FILMS

GreeneStreet Films (GSF) is an independent film financing and production company founded in 1998. GSF recently partnered with A Bigger Boat (ABB), the television and film entity founded by former Lionsgate President and producer Peter Block, to jointly produce pictures including those that are part of non-exclusive distribution deals with Overture, Alliance and Anchor Bay Entertainment. GreeneStreet is currently in production on UNTITLED PETER FARRELLY/CHARLIE WESSLER COMEDY (Relativity) and in pre-production on HOUSE AT THE END OF THE STREET (GSF/FilmNation).  Previous GreeneStreet releases include five time Academy Award nominee IN THE BEDROOM (Miramax), critically acclaimed film PINERO (Miramax), #1 box office thriller SWIMFAN (Fox), studio comedy UPTOWN GIRLS (MGM), Robert Altman's star studded feature A PRAIRIE HOME COMPANION (Picturehouse),  and the 2006 WGA nominated Best Documentary ONCE IN A LIFETIME: THE EXTRAORDINARY STORY OF THE NEW YORK COSMOS (Miramax).