The story of is based on the renowned composer whose works included "West Side Story", "Candide", and "Trouble in Tahiti".
"Spotlight" scribe Josh Singer is tapped to write the screenplay for the yet untitled project, said The Hollywood Reporter.
"Marty is one of our industry's most prolific and celebrated filmmakers and he is also an integral part of the Paramount family. We are looking forward to many more years and many more great films at Paramount Pictures," said Paramount CEO Brad Grey.
The 72-year-old filmmaker is currently shooting "Silence" starring Andrew Garfield, Liam Neeson and Adam Driver.
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