According to Deadline, Bridges is in final negotiations to star opposite Ryan Reynolds in the Universal film, based on the Dark Horse comic written by Peter M. Lenkov.
R.I.P.D. stands for Rest In Peace Department, a police force comprised of ghosts who battle spirits unready to depart this world. Reynolds will play Nick Cruz, a recently slain cop who joins the force to find his own murderer. Bridges would play Cruz's very old partner, a gunslinger from the Old West who's been hunting spirits since the 1800s.
The second lead role was originally to be filled by Zach Galifianakis, but the deal fell through and Bridges is stepping in. Robert Schwentke ('Red') is attached to direct.