The former “The Other Guys” co-stars will be reuniting in the new Paramount film Daddy’s Home:

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.