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This ain't no 'Project Greenlight.'

According to the Hollywood Reporter, the Oscar-winning duo of Matt Damon and Ben Affleck are in negotiations to reunite once again for a first-look producing deal with Warner Bros., the studio responsible for some of Damon's biggest hits of the last decade ('The Departed', the 'Ocean's 11' films and 'Invictus', for which he's currently nominated for a Best Supporting Actor Oscar).

Affleck's upcoming 'The Town,' which he wrote, directed and starred in, is through Warner Bros. as well. This ain't no 'Project Greenlight.'

According to the Hollywood Reporter, the Oscar-winning duo of Matt Damon and Ben Affleck are in negotiations to reunite once again for a first-look producing deal with Warner Bros., the studio responsible for some of Damon's biggest hits of the last decade ('The Departed,' the 'Ocean's' films and 'Invictus,' for which he's currently nominated for a Best Supporting Actor Oscar).

Affleck's upcoming 'The Town,' which he wrote, directed and starred in, is through Warner Bros. as well.

The two have collaborated a few times since breaking on the scene in 1997 with a Best Original Screenplay Oscar for 'Good Will Hunting,' but haven't quite replicated that success. Their high profile team-up for the reality show/filmmaking boot camp 'Project Greenlight' produced some great show drama for three seasons on HBO and Bravo, but little box office success (despite featuring a young Shia LaBeouf in 2003's 'The Battle of Shaker Heights').

But both Damon and Affleck have grown and developed as filmmakers since. Affleck won raves for his gritty 2007 directorial debut 'Gone Baby Gone,' and while Damon has focused on acting in roles both action-oriented, like the 'Bourne' films, and dramatic ('The Departed'), he recently produced 'The People Speak,' a documentary based on the work of the the late Howard Zinn.

No word yet on the exact terms of the Warner Bros. deal, or the company's title.

Damon can be seen next in the thriller 'Green Zone,' and Affleck will appear in alongside Kevin Costner and Tommy Lee Jones in 'The Company Men,' out later this year.