The duo will produce both TV series and film.
Affleck, 38 and Middleton are yet finalise all the details, although the pair are rumoured to be gearing up to announce the company's production chief next month, reported Variety.
The production company will also allow Affleck the opportunity to focus on both writing and producing.
Affleck has previously written the screenplays for 'Gerry' and 'I'm Still Here'.
The 'Out of the Furnace' actor has also produced 'All Grown Up'.
Middleton's producing credits include 'Oldboy' and 'The Voices'.