Oscar-nominated documentary filmmaker Joe Berlinger will helm the film, which will be told from the perspective of Bundy's longtime girlfriend, Elizabeth Kloepfer, according to The Hollywood Reporter.
Michael Werwie has written the script for the project.
Nicolas Chartier and Ara Keshishian are producing via Voltage along with Michael Costigan. Efron's Ninjas Runnin' Wild banner will also produce alongside Michael Simkin and Jason Barrett.
Efron, 29, will next be seen in the upcoming musical "The Greatest Showman" with Hugh Jackman.
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