In addition, the Joker origin story is reportedly set to fall under a new banner of DC features at Warner Bros. that are not connected to the DCEU continuity.
The Joker has been played by a number of top actors, most notably Jack Nicholson and Heath Ledger.
This film will have no bearing on the version of the character in the DCEU.
The film, which is to be separate from the DC Extended Universe that is home to Ben Affleck's Batman and Jared Leto's Joker, will be co-written by Phillips and Scott Silver.
What's still most baffling about this project is the involvement of Phillips, who crafts collections of moving images that resemble movies, but are really just trash piles that you watch while contemplating the finality of all existence.
Joaquin Phoenix in talks to play The Joker in DC origin movie
Todd Phillips is writing and directing the new standalone Joker movie, with Phillips having met with Joaquin Phoenix before the new year.
It's also said that Leonardo DiCaprio was courted for the Joker role, but that didn't pan out.
Phoenix is one of the most talented actors working today and immediately brings a certain amount of intrigue to this wild idea. This now untitled origin story is said to take place in the 1980s and follow The Joker's rise as a crime lord in Gotham.
He passed on playing Lex Luthor in Batman v Superman: Dawn of Justice (which went to Jesse Eisenberg) and on starring in Disney-Marvel's Doctor Strange.
In case you forgot, there are now two competing stand-alone Joker movies in the works.
Antonio Conte 'to remain Chelsea manager after Watford defeat'
Chelsea players wear a dejected look after conceding a goal against Watford during their EPL match on Monday. I work every day and I give 120 percent, okay? Otherwise, the club can take a different decision.