Coogan will play Erasmus, a demanding, popular celebrity, while Rudd plays his more hesitant counterpart, Paul, reported Entertainment Weekly.
Andrew Fleming will direct the project from his own script.
Gabriella Tana, Maria Theresa Arida, Maxime Remillard and Aaron Ryder are producing the film, with Clark Peterson and Lisa Wolofsky attach as executive producers.
The actors have previously worked together in "Night at the Museum" (2006) and "My Idiot Brother" (2011).
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