Paul Thomas Anderson has the backing to start shooting a new project, which may be called "The Master" and may be a look at Scientology. Philip Seymour Hoffman and Joaquin Phoenix star with more casting to come. Note to self: read Pynchon's Inherent Vice (rumored to be Anderson's next project) on vacation. (Deadline)
This is the project that Anderson has worked on for a long time, once under the title The Master. He has greatly overhauled the script and now, Hoffman stars as a man who returns after witnessing the horrors of WWII and tries to rediscover who he is in post-war America. He creates a belief system, something that catches on with other lost souls. The film is fully financed by Ellison's Annapurna banner. At a time when the implosion of the indie film marketplace made pricey auteur films so hard to finance, Ellison has emerged as something of a godsend to the small group of auteurs she is working with. She's enabled Anderson to make the movie at or near the $35 million budget the film was going to cost back when Universal stepped away.

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