Christoph Waltz and Guy Pearce are teaming up for a fantasy comedy produced by The Jim Henson Company.
The pair will star in 'The Portable Door', a film about a young man who lands a job at a magical firm whose owners may have darker motives, which is being made by the studio behind The Muppets.
According to The Hollywood Reporter, Christoph will play the charismatic head of the company J.W. Wells & Co., which is disrupting the world of magic by bringing in modern corporate practices.
Guy, meanwhile, will portray shape-shifting goblin Dennis Tanner, who is trapped in a middle-management role at the company.
The lead role of Paul Carpenter, and intern who discovers the organisation's shady aims, will be played by 'Tolkien' actor Patrick Gibson.
Australian actor-turned-director Jeffrey Walker and screenwriter Leon Ford are adapting the film from author Tom Holt's popular six-book fantasy series.
Announcing the new project, Lisa Henson, chief executive officer of The Jim Henson Company, said: "We were especially drawn to the crowd-pleasing franchise potential of 'The Portable Door', with its relatable, gritty humour made popular in shows like 'The Office', and its rich, 'Harry Potter'-like, high-fantasy setting.
"Once we were able to entice accomplished and versatile director Jeffrey Walker to join the project, we knew we had someone perfectly suited to pull together this unique tone and ground the film for its audience."
A potential release date for the movie is yet to be announced.
Christoph, 63, recently completed filming on James Bond film 'No Time to Die', in which he reprises his role as Blofeld. He will next be seen in 'The French Dispatch' and 'Rifkin's Festival'.
Guy has finished shooting on 'Disturbing the Peace', 'Bloodshot', and 'Zone 414', and is currently working on 'The Seventh Day' and TV series 'Alantown'.
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