It looks like the Gus Van Sant-directed drama starring Matt Damon and John Krasinski now has a title and a distributor. Known as Promised Land, Focus Features and Participant Media had the winning bid for the project co-written by the two stars. Although it was originally meant to be Damon’s directorial debut, scheduling conflicts prevented it. Promised Land stars Damon as a sales executive whose arrival in a small town turns his life upside down. Krasinski will play a rival corporate executive.Also acquired today by Sony Pictures Classics was the Marion Cotillard-starrer Rust & Bone by director Jacques Audiard (A Prophet). The project is an adaptation from a book of shot stories by Craig Davidson. Hit the jump to check out more from both projects.Deadline reported on the recently bequeathed title of Promised Land as well as its pick-up by Focus and Participant. This will mark the first time the two distributors are teaming up. Production on Promised Land is scheduled to start this April.rust-and-bone-marion-cotillardFor Rust & Bone, check out the following press release from Sony Pictures Classics:

SONY PICTURES CLASSICS ACQUIRES JACQUES AUDIARD’S RUST & BONE

NEW YORK (February 1, 2012) - Sony Pictures Classics announced today that they have acquired all North American, Latin American and Eastern European rights to Jacques Audiard's (A PROPHET) RUST & BONE from Hengameh Panahi of Celluloid Dreams.  The film recently wrapped production.

The film was co-written by Jacques Audiard and Thomas Bidegain and adapted from the acclaimed book of short stories by Craig Davidson.  Just as he did with the prison genre in A PROPHET, Jacques Audiard will renew the love story with RUST AND BONE, his stirring new film filled with romance and suspense.

RUST & BONE stars Academy Award® winner Marion Cotillard (LA VIE EN ROSE, MIDNIGHT IN PARIS) and Matthias Schoenarts (BULLHEAD), and is produced by Pascal Caucheteux, who SPC had previously worked with on the features, OF GODS & MEN and  A PROPHET.

"Jacques Audiard is one of Europe's finest directors, and the same goes for producer Pascal Caucheteux.  We are thrilled to be working with them, and Hengameh Panahi of Celluloid Dreams, once again," said Sony Pictures Classics.