Yes, it is confirmed that Akshay Kumar, Sanjay Leela Bhansali and Prabhu Deva would be collaborating for a film. The film would be co-produced by Bhansali and Akshay while Prabhu Deva would be directing his second Hindi film after Wanted.
However, the speculation around this being a period dance drama is incorrect. The film is being set in the modern times and has a contemporary feel to it. Also, dance would form one of the many ingredients of this hardcore commercial masala flick which would go on floors early next year once Akshay Kumar wraps up the shoot of Desi Boyz [to be directed by Rohit Dhawan - son of David Dhawan].
Confirms a highly placed source connected to the film, "That's right, this is going to be the most ambitious project ever by Bhansali. It was him who thought of bringing together Akshay Kumar and Prabhu Deva. He has been known for certain aesthetics of cinema and that would remain intact in this new venture as well. However, this time around the target audience would be a wider segment of masses. Bhansali wanted to expand his horizon and conceived a mega project like this."
"For Akshay too, it is all set to be a new experience because he has established himself amidst the top league without working with filmmakers like Chopras, Johars and Bhansalis of the world. A project like this adds on a reputed filmmaker to his repertoire", he adds, "Since Prabhu Deva too has shown his commercial bent with Wanted, his coming together with Akshay only makes this a killer combination in the making. One can well imagine the kind of hype that just this announcement is going to make."