The 64th Cannes Film Festival is currently in full swing and while we can't be there to cover it (*sigh* maybe next year), we thought we'd bring you up to speed on the developments so far and give you a quick snapshot of all the moving and shaking currently going on in Cannes, southern France:

• Hugo Weaving ('The Matrix', 'Lord of the Rings') will once again be joining The Wachowski Siblings (brothers no more) alongside Halle Berry in 'Cloud Atlas'. Based on the book by David Mitchell, the film centers around centuries of characters - a 19th century American notary, a poor British musician in the 1930s, a journalist in 1970s California, a vanity press publisher in the early 21st century, a rebellious clone in the near future and a primitive Hawaiian tribesman surviving after the apocalypse. Each actor in the film will reportedly be playing multiple roles across each era.

• Samuel Goldwyn Films has signed on to distribute the Chen Kaige film 'Sacrifice'. The film, which opened at the #1 spot in China when it premiered and went on to earn over $30 million at the Chinese box office, centers around an orphan who is raised to avenge the death of his family.

• Strand Releasing has picked up the U.S. rights to the roadtrip drama 'Here', starring '3:10 to Yuma' actor Ben Foster and European actress Lubna Azabal. The story of a romantic relationship between an American satellite-mapping engineer and an expatriate Armenian photographer on an impromptu road trip premiered earlier this year at Sundance.

• The Weinstein Company has beat out some very stiff competition to nab worldwide rights to the film noir martial arts flick 'Dragon (Wu Xia)' by director Peter Ho-Sun Chan. Centering around the investigation into the death of two robbers in a small village, the film was highly sought after and The Weinstein Company is hoping to premiere it here in the states later this year.

• Oscar-winner Colin Firth ('The Kings Speech') and Emily Blunt will team up for an untitled film about two people who seek to reinvent their lives and begin to break into other people's homes in order to take over their identities, to be helmed by first-time director Dante Ariola.

• Millenium Films has picked up the drama 'Little Birds' featuring Juno Temple, Kay Panabaker, Kate Bosworth and Leslie Mann about two teenage girls from the Salton Sea who fall in with a group of street kids only to find themselves wrapped up in the crime world of Los Angeles.

• Kate Bosworth will also star in the thriller 'Black Rock' about three childhood friends who reunite for a weekend getaway, only to learn that someone else has followed them. Written by Mark Duplass ('Cyrus') and directed by wife/actress/director Katie Aselton, the film is financing a portion of their filmmaking costs through the crowd-sourcing site KickStarter and has already picked up over $7,000 of their $20,000 goal.

• Dennis Quaid has joined the cast of 'The Words', the directorial debut of 'Tron: Legacy' writers Brian Klugman and Lee Sternthal (who also wrote the film). The film stars Bradley Cooper ('Limitless') as a young writer who discovers the price he must pay for stealing the work of another writer (to be played by Jeremy Irons). 

• Open Road Films has acquired 'The Killer Elite' as it's first release. The action film, which stars Clive Owen, Jason Statham, and Robert DeNiro, is inspired by a real life tale of a special-ops agent who tries to rescue his mentor while doing battle with a group of ex-British Special Air Service soldiers. 'The Killer Elite' is expected to open up in more than 2,000 theaters nationwide.

• Katie Holmes (apparently freed from Tom Cruise's basement) will star in 'Responsible Adults' alongside 'Gossip Girl' star Chace Crawford. The rom-com is about a 30-year-old med student (Holmes) who falls in love with a much younger man (Crawford), only to later realize that she used to babysit him as a teen.

• Leonardo DiCaprio is set to star in 'The Wolf of Wall Street' about the real life rise and fall of Wall Street mover and shaker Jordan Belfort. Written by 'Boardwalk Empire' scribe Terence Winter, the film is based on Belfort's memoirs and L.A. based company Red Granite Pictures plans to co-produce it alongside DiCaprio's Appian Way production company.

• A huge ensemble cast is coming together for Hannibal Classics' 'Sleight of Hand'. Kiefer Sutherland, Gerard Depardieu, Til Schweiger, Thomas Jane, Johnny Hallyday, and Jon Lovitz have all signed on for the heist comedy that revolves around a crew of small-time crooks in Paris who accidentally come into possession of a rare coin belonging to a notorious French gangster.