Law will play Jack Burden, the journalist who is taken in by the populist Southern politician Willie Stark, a character said to be loosely based on one-time Louisiana Gov. Huey Long. John Ireland was nominated for a supporting actor Oscar in the original, which was based on Robert Penn Warren's Pulitzer Prize-winning 1946 novel of the same name.
Steven Zaillian -- who won the screenwriting Oscar for "Schindler's List" in 1993 -- will direct the remake from his own adaptation of Warren's novel.
James Carville, a political consultant who once advised former president Bill Clinton -- and a Louisiana native -- is an executive producer on the project, along with producer-director Todd Phillips ("Starsky & Hutch," "Old School").