The Other Guys stars Will Ferrell and Mark Wahlberg are officially set to reunite.  We heard a few months ago that Wahlberg might be replacing Vince Vaughn in the comedy Daddy’s Home, and Paramount announced today that indeed Ferrell and Wahlberg will be toplining the film.  Ferrell will star as a mild-mannered radio executive who strives to become the best stepdad to his wife’s two children, but complications ensue when their freewheeling and freeloading real father turns up.  Ferrell and Wahlberg subsequently compete for the affection of the kids.  That’s My Boy and Horrible Bosses 2 helmer Sean Anders will direct, and filming is expected to get underway later this year.  Ferrell and Wahlberg had great chemistry in The Other Guys, so I’m excited by the prospect of them playing off of one another once again.

Brian Burns (Entourage) wrote the initial screenplay, but Paramount notes that the script has revisions by Adam McKay, Anders and John Morris (Horrible Bosses 2), Chris Henchy (The Other Guys), and Etan Cohen (Tropic Thunder).  Ferrell, McKay, and Henchy are producing through their Gary Sanchez Productions banner, with Anders also onboard as a producer.  Read the full press release after the jump.

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Image via Warner Bros.

Here’s the press release:

HOLLYWOOD, CA (November 5, 2014) – Paramount Pictures and Red Granite Pictures in association with Gary Sanchez Productions announced today that Will Ferrell and Mark Wahlberg are set to star in “DADDY’S HOME.” Red Granite Pictures will co-produce and co-finance the film, which Paramount Pictures will distribute worldwide. The film is expected to begin shooting later this year.

Sean Anders (“HORRIBLE BOSSES 2,” “THAT’S MY BOY”) will direct the screenplay written by Brian Burns (“Blue Bloods,” “Entourage”), with revision by Anders and John Morris (“HORRIBLE BOSSES 2,” “DUMB AND DUMBER TO”), Chris Henchy (“THE CAMPAIGN,” “THE OTHER GUYS”), Adam McKay (“ANCHORMAN 2: THE LEDGEND CONTINUES,” “THE CAMPAIGN”) and Etan Cohen (“MEN IN BLACK 3,” “TROPIC THUNDER”).

Morris will produce with Ferrell, Henchy and McKay through their Gary Sanchez Productions banner (“TAMMY,” “GET HARD”). The executive producers are Riza Aziz, Joey McFarland and David Koplan (“DUMB AND DUMBER TO,” “THE WOLF OF WALL STREET”) from Red Granite Pictures along with Kevin Messick (“ANCHORMAN 2: THE LEGEND CONTINUES,” “THE OTHER GUYS”) and Jessica Elbaum (“ANCHORMAN 2: THE LEGEND CONTINUES”) of Gary Sanchez, Sean Anders and Diana Pokorny (“HORRIBLE BOSSES” 1 & 2, “THE INCREDIBLE BURT WONDERSTONE”).

Adam Goodman, President of Paramount Film Group said, “Will and Mark are the absolute perfect on-screen duo to take on this hilarious project. With Anders at the helm, and our partners Red Granite on-board, we are thrilled this movie is getting underway.”

Riza Aziz, Co-Chairman of Red Granite Pictures adds, “We're particularly excited not only to reunite with the wonderful Paramount team but to collaborate again with the comical genius of Sean Anders and John Morris, who we had the pleasure of working with on Dumb and Dumber To. And we are thrilled to partner with Will, Mark and Gary Sanchez. We look forward to an inspiring, hilarious adventure.”

“DADDY’S HOME” follows a mild-mannered radio executive (Ferrell) who strives to become the best stepdad to his wife’s two children, but complications ensue when their freewheeling and freeloading real father (Wahlberg) arrives, forcing him to compete for the affection of the kids.