JACK NICHOLSON is taking a hefty pay cut to star in ABOUT SCHMIDT - because he loves the story.

The legendary movie star will play a divorced, retired insurance man who is losing his battle of self-deception. The $30 million (£20 million) project was adapted from the 1996 LOUIS BEGLEY novel ELECTION and was written with Nicholson in mind.

The actor reportedly gets about $15 million (£10 million) per film, however it is possible he could grab a share of profits on the film. Shooting is expected to start in March (01).

(KL/WNWC/CPT)

Source: WENN