Director Baz Luhrmann is close to landing a deal to make a new Elvis Presley biopic.

The Great Gatsby filmmaker is reportedly in negotiations with studio bosses at Warner Bros., who have secured rights to Presley's entire music catalogue for an as-yet-untitled film about The King of Rock and Roll, according to TheWrap.com.

The original screenplay has been written by Kelly Marcel, the screenwriter behind Saving Mr. Banks and the highly-anticipated film adaptation of Fifty Shades of Grey.