Matt Damon recently dropped out as the director of an untitled drama that he co-wrote and is set to star in with John Krasinski. This was supposed to be the first film that he would direct, but now Good Will Hunting director Gus Van Sant has officially come on board to replace Damon. The reason Damon had to drop out was because he couldn't find the time he needed to prep for directing the film.
Deadline describes the film as "a Capra-esque tale in which Damon and Krasinski play rival corporate executives. Damon plays a sales executive who arrives in a small town only to have his whole life called into question."
Van Sant is a great director, and as we've seen in the past he and Damon make a great team of filmmakers. Van Sant was the only director they approached replace Damon, so it's cool that he agreed to it. There's no doubt that this will end up being a solid script, story, and film.
Source: Deadline (http://www.deadline.com/2012/01/gus-van-sant-replacing-matt-damon-as-director-of-capraesque-drama/)