Insiders had spoken of a fifth film that would join Anna Karenina, Hyde Park On Hudson, Moonrise Kingdom and ParaNorman on the company’s slate and on Thursday Focus revealed it will be the latest film from Gus Van Sant.

Promised Land will receive exclusive engagements in Los Angeles and New York on Dec 28 to qualify for Academy Awards consideration prior to expansion in January 2013.

John Krasinski and Matt Damon star and wrote the original screenplay based on a story by Dave Eggers. Participant Media co-financed the film and Focus Features holds worldwide rights.

Promised Land tells of a corporate salesman with a drilling rights proposition who encounters resistance from town dwellers.

Rosemarie DeWitt, Hal Holbrook, Scoot McNairy, Titus Welliver and Frances McDormand flesh out the key cast.

Van Sant produced with Ron Schmidt, Damon, Krasinski and Chris Moore while Participant’s Jeff Skoll and Jonathan King served as executive producers.

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