Director Phillip Noyce (Patriot Games, Clear and Present Danger, Salt) is currently in negotiations to develop a new time-travel sci-fi film called Timeless for Relativity Media.
The movie is based on a spec script by Bill Kelly (Enchanted), and it follows a recently wed man who loses his wife and discovers after the fact she has left him a fortune. Haunted by an unresolved issue between himself and his wife, the man invests the money to build a time travel device, just to see her one last time.
This could get confusing because Robert Zemeckis is currently developing a time travel movie with the same title over at Warner Bros. His Timeless film was announced as marking his return to live-action filmmaking, and getting away from that motion capture technology.
I'm just going to assume these are two completely different film projects with the same title, and different directors.