The movie is based on the 1943 sinking of Kennedy's PT boat during World War II, reported Variety.
The project has been in development since 2015, when Beau Flynn and Basil Iwanyk acquired a script by Samuel Franco and Evan Kilgore.
Kent Kubena and Taylor Zea will oversee for Thunder Road and Scott Sheldon will oversee for Flynn Picture Company.
No director is yet attached.
Kennedy was the commander of patrol torpedo boat PT 109 in the South Pacific when it was rammed by a Japanese destroyer Amagin, killing two crewmen. With the crew presumed dead by allies, Kennedy led the 11 survivors in swimming to a deserted island, where the crew had to hide from passing Japanese barges.
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