Emma and Ryan Gosling will star in Damien Chazelle's Musical 'La La Land'

Ryan Gosling and Emma Stone are such magnetic personalities individually, it's not a shock that Hollywood has been eager to see what happens when they get matched up on the big screen. Their first effort "Crazy, Stupid, Love" was a decent enough airplane movie that kind of lost it in the third act, while "Gangster Squad" is probably best not discussed. But if all works out, their third film could be the most promising yet.

Deadline reports that Gosling and Stone are replacing the previously attached Miles Teller and Emma Watson in "Whiplash" director Damien Chazelle's musical "La La Land." Previously described as a cross between "The Graduate" and "Boogie Nights" (but, obviously, with music), the story is set in Los Angeles, and follows a young couple — actress, Mia and jazz pianist, Sebastian — who try to keep their relationship together in a city of cutthroat careerism.

"It's gonna be this MGM-style film with big song and dance numbers. The models are 'Singin’ In The Rain,' 'A Star is Born,' 'Gentleman Prefer Blondes,' 'Meet Me in St Louis,' etc., but also the French New Wave, Jacques Demy, 'Umbrellas of Cherbourg,' " Chazelle told us about the film last fall. "Definitely a completely different register than 'Whiplash,' but hopefully — I like movies that go for broke, so hopefully it'll have the same energy. The mood will be different, though."

So yes, sign us up for this one. Production is aiming to get underway this fall.

4/30/15 Update: Lionsgate have announced a release date for the film: July 15, 2016. Here's the official synopsis:

 From Summit Entertainment.  In this modern take on the Hollywood musical from Damien Chazelle, the Academy Award-nominated writer and director of WHIPLASH, Sebastian (Ryan Gosling) and Mia (Emma Stone) are drawn together by their common desire to do what they love.  But as success mounts they are faced with decisions that begin to fray the fragile fabric of their love affair, and the dreams they worked so hard to maintain in each other threaten to rip them apart.

via