James Frey, the golden boy author of Oprah's book club who later became a star on The Smoking Gun for his pseudo-memoir, "A Million Little Pieces," will get his new young adult sci-fi novel, "I Am Number Four," adapted for film at the hands of "Smallville" creators Al Gough and Miles Millar. That's the same movie that Michael Bay scooped up to produce and possibly direct as he wrapped work on "Transformers: Revenge of the Fallen."

Gough and Millar will script the movie, based on Frey's as-yet unpublished book from HarperCollins, according to Variety. Bay is still committed to produce, but director duties remain unassigned. Read more...

You would think that Michael Bay, director of this week's hot summer blockbuster "Transformers: Revenge of the Fallen," would be taking advantage of some well-earned downtime as audiences flock to see giant fighting robots and s--t blowing up. Maybe he is. But that's not all he's doing.

Variety reports that Bay is in place to produce and possibly direct a book-to-movie adaptation of "I Am Number Four," the first in a six-book sci-fi series. The deal is with Dreamworks; studio stakeholder Steven Spielberg is expected to be active "in a behind-the-scenes capacity, similar to the godfather role he has played in the 'Transformers' franchise." Read more...