Oh no! New Line confirms 'New Year's Eve'

I haven't seen "Valentine's Day" yet and obviously can't comment quite yet on whether it was a failure to make this film happen, but apparently, some studio folks out there think it was the best idea ever.

To top that, New Line Cinema has announced it will develop "New Year's Eve," a "Valentine's Day" spinoff that will take place on New Year's Eve in New York City and follow a bunch of people as they... celebrate?

Anyway, details are sketchy, but Variety says Katherine Fugate ("The Prince & Me," "Army Wives") will write the script. Plus, Garry Marshall, who helmed "Valentine's Day," is also expected to return as director. Release is planned for late 2011.

"Day" follows 10 Los Angeles people whose lives intersect on Valentine's Day. Julia Roberts, Anne Hathaway, Jessica Alba, Jessica Biel, Jennifer Garner, Bradley Cooper and Shirley MacLaine star, among others.

"Day" can obviously be considered an American version of "Love Actually," a film I adored. That said, I doubt this one will be just as romantic, charming and funny. At least it's got quite an awesome cast as well...