The film focuses on a group of dads, one of whom would be Stiller, that establishes a neighborhood watch as a bonding exercise but find themselves in over their heads when they uncover a plot to destroy the world. This film would mark the third time that Stiller has signed on as a nightwatchman, only to find himself in over his head. Dicey stuff.

Speaking of the Night at the Museum franchise, Shawn Levy is looking to offer a hand as producer of Watch.

Neither Schaffer nor Stiller have committed yet, but this could serve both parties well, as Schaffer could use this as a very high-profile gig to establish himself, and Stiller could use Schaffer’s edge in doing a comedic film that doesn’t have a number after it. Or the word “Focker.”