Cate Blanchett is reportedly tipped to star alongside Colin Firth in a film to be directed by Barbra Streisand.

Streisand, 70, has agreed to direct Skinny and Cat, an epic love story about writer Erskine Caldwell and photojournalist Margaret Bourke White, says industry website Showbiz 411.

Firth and Blanchett are officially attached to the film and Linda Yellen is producing from a script she wrote, reports the website.

The film is about a writer and a photojournalist's relationship and will be independently financed. The release is slated for 2013, says the industry website.

Streisand's last directing gig was 1996's The Mirror Has Two Faces, starring herself, Jeff Bridges, Lauren Bacall and a host of other big names.

That film earned a slew of Golden Globe and Oscars nods, with Bacall winning the former award for Best Supporting Actress.

Streisand herself has won two Oscars, eight Grammys, five Emmys, a Special Tony and four Golden Globes.