Here's your daily dose of film news for March 17, 2009:

• "Transformers 3" has an official release date! Paramount announced Monday it will release the third installment in the series July 1, 2011. No word yet on whether Michael Bay will return to direct. "Transformers: Revenge of the Fallen," the next film in the series, is set to open June 24, 2009.

• Paramount has also acquired the rights to develop the big-screen version of John Le Carre's espionage thriller "The Night Manager," according to Variety. The story follows a European hotel night manager who is recruited to infiltrate the network of an arms dealer. Robert Edwards is writing the adaptation.

• Here's more from Paramount: the studio has acquired the rights to Joshua Davis' article "The Untold Story of the World's Biggest Diamond Heist" in Wired magazine. The Hollywood Reporter says J.J. Abrams will produce and may even direct the project. The upcoming article focuses on a massive diamond heist in Antwerp, Belgium.

• Sony Pictures Classics has acquired the U.S. rights to distribute Anne Fontaine's upcoming Coco Chanel biopic "Coco Avant Chanel" (Coco Before Chanel). Audrey Tautou stars as the lead character in the film, which chronicles the life and career of the fashion designer. (Variety)

Update on Wednesday, March 18, 2009 at 10:11AM by Franck Tabouring

Well, Paramount made a mistake, and "Tranformers" won't be released until 2012...

Warner Bros. has joined Haut et Court and Cine @ to finance and produce Anne Fontaine's upcoming biopic "Coco Avant Chanel," according to Variety.

Based on Edmonde Charles-Roux's book "L'Irreguliere," the film examines the life and career of renowned fashion designer Coco Chanel. Fontaine wrote the script along with Camille Fontaine and consultant Christopher Hampton. 

French actress Audrey Tautou stars as the titular character. Tautou's acting credits include "Le Fabuleux destin d'Amélie Poulain" (Amelie), "A Very Long Engagement" and "Priceless."

Production is scheduled to start this September, with a release date planned for later next year. Karl Lagerfeld, art director of the House of Chanel, will assist in the recreation of dresses and accessories.

I'm definitely not a fashion guru, but I am most certainly looking forward to this project, primarily because of the casting of Tautou, who is undoubtedly the best choice for this complex role.

Plus, I have to admit I really enjoyed some of Fontaine's previous work, including the captivating thriller "Entre ses mains" (In His Hands) and "Comment j'ai tué mon père" (How I Killed My Father).