Morgan Creek boarding Beatty's Hughes pic

Beatty Morgan Creek is closing in around the deal to co-finance Warren Beatty's untitled Howard Hughes pic with New Regency.Vital had initially signed to the project in June, but dropped it this year's week. New Regency swooped in and contains already started scouting due to its cast.While New Regency relies at last century Fox, no decision has been created a distrib.Pic would mark Beatty's return to the screen carrying out a 10-year hiatus. Thesp, who also written and may produce and direct the untitled project, last came out in "Town & Country" in 2001. Contact Rachel Abrams at Rachel.Abrams@variety.com