Edward Asner is set to star opposite Tom Selleck in The Closer, sources said. The CBS midseason sitcom takes place in a Denver advertising agency. Asner _ who holds the record for the most primetime Emmys _ is apparently on board to play a copy writer and longtime employee of the agency, which is owned by Selleck's character. The first episode will also feature Penelope Ann Miller, David Krumholtz, Suzy Nakamura and Hedy Burress as employees of the agency. Barry Corbin will have a guest role. Universal Pictures has concluded a deal to develop two more Little Rascals feature films. The first film, released in 1994 by Universal, grossed more than $50-million at the U.S. box office. Meanwhile, King World Kids, the children's programing division of King World Productions Inc., is developing an updated, live-action Little Rascals television series. Faye Dunaway and producer Lester Persky have settled their dispute over film rights to the play Master Class. Persky will receive an undisclosed financial settlement and be listed as an executive producer on the film version of Terrence McNally's play. Dunaway walks away with film rights to the Tony Award winner. She intends to star in as well as executive produce the film version. Jack Nicholson, Helena Bonham Carter and Matt Damon carried off top honors as the Broadcast Film Critics Association announced the winners of its third annual awards. Nicholson's performance in As Good as It Gets earned him the Critics' Choice best actor award, while Bonham Carter was lauded for her role in The Wings of the Dove. Damon was the only double winner _ for his "breakthrough performance" in Good Will Hunting and for the film's original screenplay, which he wrote with Ben Affleck. The 123-member organization will announce its best picture on Jan. 19. Fashion designer Tommy Hilfiger will start up his own record label, with potential backing and distribution coming from entrepreneur Quincy Jones, sources said. Hilfiger, who has been dressing musicians from the Rolling Stones to hip hop artists for quite some time, is expected to announce plans for his label shortly. Hilfiger's younger brother, Andy, will be put in charge of the label, overseeing the day-to-day operations. Joseph Ashton, who stars in Paramount Pictures' upcoming The Education of Little Tree, has signed to star opposite Daniel Baldwin and Frank Zagarino in Fall Out. Ashton plays Ethan, the son of a woman sent to save the world from a group of Russian terrorists who take over a space station and threaten to bomb Earth. The thriller is set in the year 2015. Fall Out marks the third major feature role for Ashton. In The Education of Little Tree, which opens in Los Angeles today, the 11-year-old plays Little Tree in a story about what we have lost in the eradication of Native American cultures and of what we might gain from appreciating our natural environment. Luke Perry is starring in the ensemble film The Florentine, which began shooting recently in Pennsylvania. The Florentine is a dramatic comedy about a circle of friends in a Pennsylvania mill town that tries to reconcile the world they expected to inherit with the one they actually got. The Florentine is the bar the group frequents. Perry plays Frankie, a cash-strapped dreamer trying to get ahead. Michael Madsen, Chris Penn, Tom Sizemore, Virginia Madsen, Mary Stuart Masterson, Jeremy Davies and James Belushi also star. _ Times wires