Variety reports that the joint production between Warners & Disney "begins in 1878, (and) follows the rivalry between two stage magicians who battle one another for trade secrets. The rivalry turns them both into murderers. Jonathan Nolan adapted the screenplay from the novel by Christopher Priest.
Both Nolans have been working together on the script in recent months."
Nolan and Bale collaborated most recently on the rather successful "Batman Begins," and news of a sequel should not be too far off.
Production on this intriguing project begins in January.