Disclosed is a method of producing a novel biaxially oriented film having a high diffraction of light, and flexibility. In particular, the invention disclosed provides a method for making an opaque impact copolymer film by stretching in two dimensions an impact polypropylene copolymer. The invention is disclosed to be useful for making a material particularly suitable for a variety of applications including labeling media, food packaging and laminates. Also disclosed is a multilayer film having a first impact polypropylene copolymer layer and a second layer of another polymer wherein the multilayer film has significantly reduced haze. Also disclosed is film produced with a filler that has increased porosity and flexibility.