The U.S. distribution rights for Madonna’s directorial film debut, ‘W.E.,’ have been picked up by The Weinstein Company (TWC), and the movie is scheduled to be released in late 2011, Collider is reporting. The romantic drama was written by Madonna and Alek Keshishia, and the singer will also produce the film.

‘W.E.,’ which has a similar concept to the hit 2009 comedy-drama ‘Julie and Julia,’ follows lonely New Yorker Wally Winthrop, played by Abbie Cornish, who’s obsessed with what she thinks is the ultimate love story: King Edward VIII, portrayed by James D’Arcy and Wallis Simpson, played by Andrea Riseborough. While Wally is living in 1998, Wally researches the King and his abdication of the British throne to be with his love, American divorcee Wallis. But Wally discovers that Edward and Wallis’ lives together slowly unraveled.

TWC’s Co-Chairman, Harvey Weinstein, said his studio picked up ‘W.E.’ because “Madonna has really come into her own as a filmmaker…She’s taken one of the most famous romances of the 20th Century and brought it to life in a smart, sexy and thoroughly modern way.” He added that he thinks the film is a terrific addition to TWC’s US. release line-up.

Of ‘W.E.,’ Madonna said the story “is about the nature of true love, and the sacrifices and compromises that are often made. Ive wanted to tell this story for a very long time…I’m looking forward to working with (Harvey) and The Weinstein Company on this film.”

Written by: Karen Benardello