Ryan Gosling and Emma Stone set to star in musical La La Land

Miles Teller and Emma Watson had been intended for Damien Chazelle’s script

Ryan Gosling and Emma Stone in Crazy Stupid Love (AP)

Crazy Stupid Love co-stars Ryan Gosling and Emma Stone look set to reunite for Damien Chazelle’s musical La La Land.

Writer and director Chazelle had intended to cast the star of his Oscar-nominated Whiplash, Miles Teller, but the actor is now understood to have “moved on”.

Stone and Gosling are believed to be in the running although nothing has yet been finalised, Deadline reports.

The pair played lovers in 2011 comedy Crazy Stupid Love, which grossed $84 million, with Gosling playing a reformed lothario to Stone’s quirky lawyer.

La La Land has been pitched as an old fashioned musical love story between a jazz pianist and an aspiring actress set in modern day Los Angeles.

Chazelle originally intended Teller to star alongside Harry Potter actress Emma Watson but she left the project in favour of Disney’s Beauty And The Beast.

Gosling recently made his directorial debut with Lost River, but has returned to acting and is currently filming Adam McKay’s The Big Short opposite Christian Bale and Brad Pitt.

Stone will next be seen in Irrational Man, co-starring Joaquin Phoenix, about a philosophy professor having an existential crisis.