Joaquin Phoenix Film Could Hit Theaters In Fall

Even execs selling movie claim to be unsure whether 'I'm Still Here' is true documentary or elaborate hoax.

In "I'm Still Here: The Lost Year of Joaquin Phoenix," is the actor-turned-purported-rapper channeling Michael Moore or Borat? No one seems to know, which is surely part of the point and is helping to drive intrigue about the project.

The public might soon have a chance to decide for themselves — documentary or mockumentary? — as the film could land in theaters as early as this fall. The Los Angeles Times reports that Magnolia Pictures is in final negotiations to acquire "I'm Still Here."

Directed by Casey Affleck, the film follows Phoenix's transition from Oscar-nominated actor to aspiring rapper. While details are still strictly guarded, the footage surely captures Phoenix's many perplexing episodes since early last year, including the actor performing at a club in Las Vegas (and falling off the stage) and acting like a demented Grizzly Adams on "The Late Show With David Letterman." Sources also say that the film captures Phoenix having oral sex with a publicist, being defecated upon while sleeping and verbally abusing his assistants.

All of these events remain an integral part of the film's mystery. Not even distribution execs, who screened the film at William Morris Endeavor in May, said they knew whether the footage was real or an elaborate hoax. Yet Diddy, who produced a track for Phoenix, said he's convinced the whole thing is authentic.

"Joaquin's for real," he told MTV News in May. "If he's not for real, he tricked me. We went into the studio, did a record, mixed a record and everything."

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