He's been attached to a few different projects of late (Winter's Discontent, Pierre Pierre, a TV series with McG), but it seems that Larry Charles' next film will be **The Dictator, teaming him for the third time (following Borat and Bruno) with Sacha Baron Cohen.
The film sounds to be more script and plot-based than the previous two, although the Man-Who-Fell-to-America aspect is all present and correct. It'll see Cohen take on two roles: as a goat-herder and as a deposed dictator from an unspecified country who gets lost in the States.
Charles is a veteran of Seinfeld and Curb Your Enthusiasm, and will reportedly be bringing several of his previous writing colleagues with him. The film is being set up at Paramount (who secured the project by sending Cohen some goats - no, really) and shooting should get underway once Cohen has finished with Martin Scorsese's The Invention of Hugo Cabret.