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Sandler's Next: "Happy Gilmore Goes to Town"?

Adam Sandler, meet Frank Capra. Sort of.

The goofy comic is reportedly lining up his next flick, which will update Capra's 1936 classic Mr. Deeds Goes to Town.

And two rival studios so badly want a piece of the ex-Saturday Night Live star's next box office behemoth, that they're willing to team up to get him.

Columbia Pictures and New Line Cinema are considering sharing producing duties on the Sandler flick, according to Daily Variety. The collaboration would make sense to all parties, since Columbia owns the rights to Sandler's next movie script, while New Line has dibs on the funnyman's next acting project.

If the studios can hash out a deal, then Sandler would reportedly make the contemporary Capra-esque comedy his priority.

The script reportedly started out as a straight remake of Deeds, but Sandler and writing partner Tim Herlihy wound up with something far different from the famous original--not a surprise considering it's a vehicle for a star who has made a career out of playing stupid in films like Billy Madison, Happy Gilmore and The Water Boy.

The original Deeds, a typical bit of Capra corn, featured the un-Sandler-like Gary Cooper as a good-natured, greeting-card poet living a peaceful life in a small town. After inheriting a fortune, he decides to move to the big city and soon finds himself the talk of New York as his steadfast sincerity and truth-telling make him stand out in the din of corrupt lawyers, politicians and slicksters.

While inspired by Deeds, Columbia's giving the Herlihy-Sandler project a different title and billing it as "loosely based" on the classic, as opposed to a remake of.

Sandler, now among Hollywood's elite snagging $20 million per picture, has several other projects on the table. He may star in Magnolia writer-director Paul Thomas Anderson's untitled comedy, which was written specifically with Sandler in mind and could possibly costar Emily Watson. Another option is The Five Johnsons, a comedy in which Sandler would pull an Eddie Murphy and play multiple parts.

The erstwhile Opera Man will next be seen in the Herlihy-penned Little Nicky, playing the demon son to Harvey Keitel's devil who leaves the underworld for an adventure on Earth. That comedy is scheduled to hit theaters November 10.

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