Shyamalan’s Happening Splits Costs

UTV Motion Pictures and 20th Century Fox are all set to co-finance and co-produce director M. Night Shyamalan’s next project “The Happening.”

UTV and Fox will share the $57 million budget and be equal partners on all revenue streams of the film.

Worldwide distribution will be handled by Fox except India, which will be handled by UTV. Shooting begins this August, slated for a 2008 summer release.

Shyamalan plans to lens “Happening” principally in Philadelphia. Meanwhile, Joblo has heard that Mark Wahlberg is up for the lead role.