The Vulture blog reports that an official announcement could be forthcoming by the end of the week.
The duo's previous production shingle, LivePlanet, started with Chris Moore and Sean Bailey, was based at Disney. Bailey is now president of production at Disney but as Vulture noted yesterday, that studio is entering a merchandise-driven, franchise-intensive era not conducive to grown-up films like The Town, a film that Affleck recently directed at Warners. It is not yet clear if the new company will resurrect the LivePlanet moniker or create a new entity.
Vulture notes that Damon, who has been concentrating on his acting career since he and Affleck won an Oscar for writing Good Will Hunting, has told close associates that he intends to direct films someday.