The Hangover duo Bradley Cooper and Todd Phillips form production company

Bradley Cooper and his The Hangover director Todd Phillips have joined forces again to form a production company.

The two friends have signed a three-year deal with Warner Bros. Pictures and their first project together will be Arms & the Dudes, a movie adaptation of a Rolling Stone article written by Guy Lawson about government arms dealers.

Both Phillips and Cooper have had production deals with Warners in the past - Cooper's 22nd & Indiana Pictures is the company behind Clint Eastwood's new movie American Sniper.

Announcing the new deal on Friday (16May14), Warners president of creative development and worldwide production Greg Silverman said, "The entire Warner Bros. family is excited about the great movies we know will come from this collaboration of two highly successful and original filmmakers.”

Oscar nominee Jonah Hill has been linked to one of the main roles in the first film under the new Cooper/Phillips banner, although it is unknown if he will officially join the cast, according to The Hollywood Reporter.