http://www.variety.com/article/VR1117960184.html?categoryid=2479&cs=1

Scorsese, Monahan ready to 'Play'
'Departed' duo rock on at Paramount
By MICHAEL FLEMING, PAMELA MCCLINTOCKMore Articles:

Paramount Pictures is tuning up "The Long Play," a rock 'n' roll epic that will be developed as a directing vehicle for Martin Scorsese. William Monahan is set to rewrite the script, reteaming the dual Oscar winners from "The Departed."
Par has also put Scorsese back in business with Mick Jagger and his Jagged Films partner Victoria Pearman, who'll produce "The Long Play" with Scorsese.

Scorsese directed Jagger and his Rolling Stones bandmates in a feature documentary shot last fall at the Beacon Theater. Paramount is planning a fall release for the docu, which Pearman produced with Steve Bing.

Jagger and Pearman are producing animated pic "Ruby Tuesday," as well as the Diane English-directed "The Women." They are exec producers of "Knights of Prosperity" on ABC.

"The Long Play" follows two friends through 40 years in the music business, from the early days of R&B to contemporary hip-hop.Jagged originated the project at Disney based on Jagger's idea. Scorsese sparked to it, and they brought in Rich Cohen, a Rolling Stones mag writer who did exhaustive research and wrote several drafts. Matthew Weiss also wrote drafts.

The project didn't fit Disney's family-film mode. Paramount, which just made a first-look deal with Scorsese to direct and produce pics, has completed a turnaround deal and set Monahan to write the script. "The Long Play" becomes the second deal Paramount has made for Scorsese, after Par and Misher Films optioned the Eric Jager book "Last Duel: A True Story of Crime, Scandal and Trial by Combat in Medieval France."

While Scorsese and Monahan have discussed continuing the storyline of best picture winner "The Departed," Monahan will pen "The Long Play" as his next assignment.

He's completed the script "Penetration" for Ridley Scott to direct, and his "Marco Polo" script is being developed as a star vehicle for Matt Damon.

Scorsese is repped by Endeavor and the Firm, Monahan by Endeavor and Jagged Films by ICM.

That story is a couple of years old.
Looks like the project might've been shelved.

oh.  I was reading this and going wtf? when's it coming out. the guy monahan was writing the screenplay so where is it?  we really don't know what is going on do we?  phooey