According to a press release issued by New Line, the comedy will be set in college and involves a white college student who promised his grandfather he'd pledge his old fraternity. Once at school, he learns his grandfather's old place is now a black fraternity.
"Whitebread" was written by Rob Lieber, based on a pitch by Peter Cohen. Damon Lee, John Herzfeld, and Michael Jenkinson are producing the comedy.
Source: New Line Cinema