Margot Robbie will replace Emma Stone on "La La Land" and "First Man" director Damien Chazelle's new R-rated period drama feature "Babylon".

Stone is reportedly exiting the film for scheduling reasons so Paramount Pictures and Chazelle are right now in early discussions with Robbie to take the female lead role. Should she join it would mark a reunion with her "Once Upon A Time...In Hollywood" co-star Brad Pitt.

The story is said to be set in the late 1920s, during the movie industry's transition from silent films to talkies. The rise and fall of fictional and historical characters figure into the proceedings. If deals are made, Margot Robbie would portray Clara Bow, the early sex symbol and box office star who was Hollywood's first "It" girl. Brad Pitt would play a fictional character, a silent film star who fails to make the transition to the new technology; sources say he is based on real-life figure John Gilbert.

Paramount acquired the rights to the film in 2019 and is targeting a Christmas Day 2021 release to put the film into awards contention.

Margot Robbie received an Oscar nomination for best supporting actress for her role in "Bombshell" earlier this year. She also received a best actress nod in 2018 for her portrayal of ice skater Tonya Harding in "I, Tonya".

Source: Press Release