It’s been about a year and a half since P.T. Anderson’s Inherent Vice hit theatres, but up until now, there didn’t appear to be any new PTA feature films on the horizon. There was some talk about him possibly directing a new version of Pinocchio, but that soon fell by the wayside. He has kept busy directing the Jonny Greenwood documentary Junun and a handful of music videos, but overall it was starting to feel like we might be in for another five year wait. Fortunately, this week we have our first solid news about a potential follow-up to Inherent Vice. Details are still slim, but there is at least one major piece of information that is worth getting excited about: it will once again star Daniel Day-Lewis. Hit the jump to find out what else we know.

According to Variety, P.T. Anderson is starting to put together his next film which will take place in 1950s New York and revolve around the fashion industry. Daniel Day-Lewis is in talks to reteam with P.T. Anderson on the project after previously collaborating on 2007’s There Will Be Blood. Megan Ellison’s Annapurna Pictures will produce and finance the film, which is currently untitled.

Daniel Day-Lewis also tends to take a few years in between projects; his last one was Spielberg’s Lincoln, which earned him his third Oscar back in 2012. Either way, There Will Be Blood is considered by many to be Anderson’s masterpiece so the possibility of a reunion is clearly a big deal, plus the subject matter sounds intriguing as well. The script is still being written so at the moment we still don’t know just how far off the movie might be. Are you looking forward to a new PTA / DDL collaboration?