Sony, which made big bucks off of Cera's summer hit "Superbad," will distribute worldwide, according to Variety.
"Playlist" is based on the novel by Rachel Cohn and David Levithan. Cera and Dennings will play a pair of broken-hearted teens who meet and fall in love over one night in New York City.
Indie film fans will be excited that "Playlist" will be directed by Peter Sollett ("Raising Victor Vargas") from a script by Lorene Scafaria.
Dennings is another veteran of the Judd Apatow Fun Factory, having co-starred in "The 40-Year-Old Virgin." She has "Charlie Bartlett" and "I Know What Boys Like" in the can.