Warner Bros., who are behind the project, had no official comment, though the studio and producers have been in talks with Luhrmann for several weeks now. Sweetening the deal, Warner Bros. has reportedly scored the rights to the King of Rock and Roll's massive catalogue of music.
Details about the movie, however, are scarce. Marcel's script is completely original and not based on any pre-existing material, so it's unclear what part of Presley's life the movie would focus on. (As far as casting goes, might we suggest Jack White, who already portrayed the King in the biopic parody Walk Hard: The Dewey Cox Story.)
Following the massive success of Luhrmann's last movie, The Great Gatsby — not to mention his extravagant directorial style that relies heavily on music — it's not surprising he's being courted for a film about Presley. Still, the director has his hands in several pots right now: He's supposedly in talks to direct an adaptation of the 1970s martial arts Western TV show Kung Fu, while simultaneously developing a miniseries on Napoleon for HBO.