Baz Luhrmann is in talks for an Elvis Presley biopic.

The 'Great Gatsby' filmmaker has reportedly been in negotiations with Warner Bros. for several weeks about depicting the life of the iconic singer - who died in 1977 aged 42 - on the big screen.

'Fifty Shades of Grey' writer Kelly Marcel is working on an original screenplay for the film, though it is as yet unclear what period of The King's life the movie would depict.

Gail Berman is producing for Tecumseh Productions, while Andrew Mittman of Whalerock Industries will executive produce and Warner Bros executive Courtenay Valenti will oversee the project on behalf of the studio.

The studio has secured full rights to all the 'Blue Suede Shoes' hitmaker's back catalogue for the movie.

If Luhrmann accepts an offer from the studio, it is likely his wife Catherine Martin will also join the project as costume designer, and also production designer.

Luhrmann has a number of projects in the pipeline, including a Napoleon miniseries for HBO and the highly-anticipated 'Kung Fu' movie, but it is not yet clear what he will choose to work on next.