A new film from the director of 'La La Land' and Emma Stone could be on the way.

Stone is currently in talks to star in the latest feature from Damien Chazelle. Chazelle would be best-know for Oscar winner 'La La Land', 'Whiplash' and last year's 'First Man' (with Stone's 'La La Land' co-star, Ryan Gosling).

The new movie is said to be set in the 1920s during the transition from silent films to talkies. The rise and fall of fictional and historical characters figure into the proceedings.

It's set in LA and Chazelle will be writing and directing it. Marc Platt, who produced 'La La Land', is one of the producers on  the film, titled 'Babylon', as is Olivia Hamilton and Matt Plouffe.

'Babylon' is currently making the rounds to studios and streaming companies. The project generated immediate interest from Lionsgate, Paramount and Netflix, among others. Closing a deal has reportedly been slow going. Stone is circling the project but has yet to be confirmed for it.

The 'Babylon' script is reportedly 180 pages long and its budget is proposed to be in the $80 million to $100 million range.

Story details are scarce but it supposedly follows rise and fall of fictional and historical characters. One such character is Clara Bow, an early sex symbol and box office star, who was Hollywood’s first “it” girl. Stone has been loosely attached to portray her.

Damien Chazelle is also currently in production on his Netflix music drama series 'The Eddy.' Set in Paris and centred around a fledgling jazz club owner and his fraught relationship with his daughter, it stars Andre Holland and Amandla Stenberg.