Paramount Pictures has optioned the biography by Sam Kashner and Nancy Schoenberger, and is finalizing a deal to have Scorsese direct, Deadline.com reported Thursday. The producers -- Julie Yorn, Gary Foster and Russ Krasnoff of Krasnoff Foster Productions -- have secured an agreement with Burton's estate as well as support from his widow, Sally Hay Burton, and hope to obtain cooperation from Taylor's estate as well.
A source at Paramount said the report was accurate but that the studio had no comment. Speculation, however, already has begun as to who would play those real-life roles. Vanity Fair, for instance, has suggestions ranging from the serious (Eric Bana and Natalie Portman) to the frivolous (Justin Bieber and Selena Gomez).