Principal photography is expected to begin this summer.
Last Thing was a fictional turn for Didion, better known for her award-winning autobiographical work. The story centers on a hardscrabble journalist named Elena McMahon (Hathaway), who inherits her father’s position as a dealmaker — an arms dealmaker. She soon finds herself on dangerous ground as the Iran-Contra Affair’s arms-for-drugs plot reaches its tipping point.
Rees, who co-wrote the script with Marco Villalobos, will direct. She is also producing along with Cassian Elwes.
“Dee Rees is an incredibly talented filmmaker who continues to make provocative and entertaining films,” said Netflix film group head Scott Stuber. “We are thrilled to continue our relationship with Dee and proud to have her part of the Netflix family.”
Rees’ Mudbound generated plenty of award-season ink last year as Netflix pushed for awards recognition for the film. The drama, which starred Carey Mulligan and Jason Clarke, earned four Oscar nominations, including a best supporting actress nod for Mary J. Blige and a nomination for best adapted screenplay, which Rees co-wrote.
Jamin O’Brien, Wayne Godfrey and Roebrt Jones are exec producing Last Thing.’