Ryan Gosling reteaming with Emma Stone to produce her new movie

Ryan Gosling is launching his new production company with a film starring his frequent collaborator Emma Stone.

The Notebook hunk has teamed up with his The Nice Guys producer Ken Kao to establish their own firm, Arcana, and they've snagged forthcoming period drama The Favorite as their first release.

The movie, from The Lobster director Yorgos Lanthimos, features Ryan's La La Land co-star Emma, alongside British actresses Rachel Weisz and Olivia Colman.

The film, which is currently in production in the U.K., is based on the reign of Queen Anne, with The Night Manager star Colman portraying the former British monarch.

Deborah Davis and Tony McNamara penned the script for the project, which will be co-produced by Ceci Dempsey for Scarlet Films, and Ed Guiney and Lee Magiday for Element Pictures, according to Deadline.com.

Ryan and Emma also previously starred together in Gangster Squad in 2013 and 2011's Crazy, Stupid, Love.

Meanwhile, Gosling and Kao, who also worked together on Terrence Malick's recent release Song to Song, have also picked up the screen rights to ghostly graphic novel The Underwater Welder, by Jeff Lemire, which is currently in development.