Richard Kelly's new film

Richard Kelly, the director of Donnie Darko, appears to have another movie in the works. It's called Southland Tales. From the brief description at the Internet Movie Database, it sounds like a science fiction version of Magnolia.

Southland Tales is an ensemble piece set in the futuristic landscape of
Los Angeles on July 4, 2008, as it stands on the brink of social,
economic and environmental disaster. Boxer Santaros is an action star
who's stricken with amnesia. His life intertwines with Krysta Now, an
adult film star developing her own reality television project, and
David Clark, a Hermosa Beach police officer who holds the key to a vast
conspiracy.

If you are looking for information on Kelly, check out Richard-Kelly.net, they seem to keep up with all he has and will do.