The script features Streep as a woman who, seeking fame and fortune as a rock star, abandoned her family. Decades later, she decides to be a mother again to her estranged children, one of whom is going through a divorce.
Academy Award winner Jonathan Demme ("The Silence of the Lambs," "Philadelphia") will direct, and Marc Platt will produce.
Cody is an Academy Award winner for "Juno." Her screenwriting credits also include "Young Adult," "Jennifer's Body" and "United States of Tara."
Streep's stage appearances include Trelawny of the Wells, The Cherry Orchard, The Seagull, Mother Courage, The Taming of the Shrew, Henry V, Measure for Measure, Taken in Marriage and Alice in Concert. In summer 2012 Streep appeared in a gala reading of Romeo and Juliet for the Public Theater opposite Kevin Kline at the Delacorte Theater.