Magnolia Pictures and Madman bought The Five Obstructions: Scorsese Vs Trier, which is the new name for their upcoming project just told you about earlier this week. They are distributing Van Trier’s Melancholia, which just debuted at Cannes and will be released later this year.

This is a pre-buy as not one frame of the film has been shot yet. Still unknown is exactly what film Scorsese will remake five times with the Nazi’s obstructions- early word hinted at him redoing Taxi Driver but certainly he couldn’t be making the entire film five times. Could he break it up into five acts and do each with a different rule? Also, would DeNiro reprise his role, as early rumors suggested? We hope to find out soon.

“The Five Obstructions is one of my all time favorite films, and I couldn’t be more excited to see what these two masters concoct together for this next installment,” said Magnolia SVP Tom Quinn in a press release. “After being blown away by Melancholia here in Cannes, the opportunity to work with Lars Von Trier again is a dream come true. Together with A ROYAL AFFAIR, we are so happy to continue our wonderful relationship with TrustNordisk and Zentropa.”

At least it will save the film from a remake from some lesser director or studio. (Platinum Dunes Presents: Taxi Driver. *shudder*)

We’re still quite a ways off as the film won’t be finished till 2013, but it’s never too soon to start salivating. It’s doubtful you’ll hear anything more exciting this year.