Sacha Baron Cohen's "Borat" may have grossed more than $100 million at the box office, but can the British comedian pull off another "mockumentary," this time in the guise of a gay Austrian fashionista?

Universal Pictures has bet $42.5 million that he can.

Before "Borat: Cultural Learnings of America for Make Benefit Glorious Nation of Kazakhstan" became a box-office sensation, Universal agreed to pay the hefty premium for the actor's next film, "Bruno," which it will market and distribute. 20th Century Fox, the studio behind "Borat," turned down the project, deeming it too expensive.