• Director Ang Lee at the Oscar awards event for "Life of Pi."

Director Ang Lee at the Oscar awards event for "Life of Pi." (Photo : Reuters)

Celebrated filmmaker Ang Lee has signed on to direct his next feature-film project, a cinematic adaptation of the satirical Iraq War novel "Billy Lynn's Long Halftime Walk."

Ben Fountain's novel will be laid down on celluloid in a co-production that consists of Fosun International-backed Studio 8, Chinese distribution company Bona Film Group, TriStar and Film4.

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The film's narrative follows a 19-year-old private, who is the survivor of a battle in Iraq that is caught on camera by a news-media crew. The private, along with his company, then embark on a promotional tour of the U.S. that involves a halftime show at a football game. The film's action primarily occurs during the day of the game, while flashbacks of the war experience are interspersed throughout.

Actors for the project have not been announced yet, as casting is currently underway, but Lee's directorial plan was revealed by the studio, which said that he will use the Sony F65 camera to shoot in native 3D and high resolution.

Studio 8 is a venture that was founded by Hollywood executive Jeff Robinov, who left Warner Bros. in 2013 and attracted the interest of Chinese big business in mid-2014. Robinov met with Fosun International's chair, Guo Guangchang, who said to the media that he realized that Robinov had been behind all of his favorite films after their meeting in June. When the partnership was announced on Sept. 23, Guo confirmed that Studio 8 is the only investment that Fosun was interested in as far as the U.S. film industry is concerned.

Studio 8 and Fosun then received the 2014 Film Partnership of the Year award at the U.S.-China Film Summit in Los Angeles, held in November.

Robinov told reporters at a summit dinner:

"China's a great market to enter at the moment. People don't really appreciate the depth of talent in China, their stories and their love of film which transcends borders."

The Ang Lee project joins the English-language remake of the Chinese feature "Overheard," which was announced in late November, in the Studio 8-Bona Film collaborative stable.