Great news, Twitch Films is reporting that Rachel is set to star in the upcoming movie adaption of “The Emperor’s Children” by Claire Messud alongside Richard Gere, Keira Knightley, and Emma Thompson. Indie Wire is reporting that Keira Knightley, Eric Bana and Richard Gere were attached to star in this movie back in 2010. Michelle Williams was mentioned for this at one point as well.

Twitch has learned that Crazy Heart writer-director Scott Cooper is replacing Noah Baumbach as the director of The Emperor’s Children. Baumbach scripted the adaptation of the novel by Claire Messud and had been attached to direct as well with Richard Gere, Rachel McAdams, Keira Knightley, and Emma Thompson all apparently attached to star. Brian Grazer will produce at Imagine Entertainment with Worldview Entertainment and IM Global financing and a spring 2012 start date being eyed.

Plot: The Emperor’s Children is about the intersections in the lives of three friends, now on the cusp of their thirties, making their way–and not–in New York City. There is beautiful, sophisticated Marina Thwaite–an “It” girl finishing her first book; the daughter of Murray Thwaite, celebrated intellectual and journalist–and her two closest friends from Brown, Danielle, a quietly appealing television producer, and Julius, a cash-strapped freelance critic. The delicious complications that arise among them become dangerous when Murray’s nephew, Frederick “Bootie” Tubb, an idealistic college dropout determined to make his mark, comes to town. As the skies darken, it is Bootie’s unexpected decisions–and their stunning, heartbreaking outcome–that will change each of their lives forever.

The shuffle is likely a result of scheduling issues for Baumbach who is currently in production on a documentary project and already slated to direct While We’re Young – which he also wrote – with Jesse Eisenberg, Ben Stiller and Naomi Watts in 2012. The shift raises questions about the status of Cooper’s Out Of The Furnace – previously known as The Low Dweller – the project Cooper is attached to direct for Relativity.

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We really hope this is going to happen, we are big fan of Keira Knightley and Emma Thompson! We assume Rachel will be one of the three friends. Still no official confirmation, but let’s we will get confirmation soon.