According to The Hollywood Reporter, discussions are underway for Cooper to star in the film, a Seventies coming-of-age drama taking place in the San Fernando Valley.
The Independent has contacted Cooper’s agent for more information.
Anderson’s most recent film, the 2017 Phantom Thread, was nominated for Best Picture at the Academy Awards.
It also earned nominations for Daniel Day-Lewis and Lesley Manville, respectively in the Best Actor and Best Supporting Actress categories.
Anderson’s Boogie Nights (1997) and Magnolia (1999) are both set in the San Fernando Valley too.
Cooper’s next project is Guillermo del Toro’s Nightmare Alley, a psychological thriller that had to suspend production due to the coronavirus pandemic.
He was nominated for the Academy Award for Best Actor for his performance in A Star is Born at the 2019 Oscars.
The film also earned a nomination for Best Picture, while Lady Gaga was nominated for Best Actress.