Warner Bros will release the yet-untitled film on legendary singer Elvis Presley on October 1, 2021.
To be directed by Australian filmmaker Baz Luhrmann, the biographical drama film will feature Austin Butler in role of Presley and Tom Hanks as his iconic manager Colonel Tom Parker, reported Deadline.
Butler was finalised after an extensive search by the studio during which it screen tested a number of actors, including Ansel Elgort, Miles Teller and Harry Styles.
The film story will chronicle the relationship between the veteran manager and the young singer, who was born in 1935 to a poor family in the small town of Tupelo, Mississippi. Presley broke out in 1956 with "Heartbreak Hotel".
Luhrmann, who directing credits include films such as "Moulin Rouge", "Australia" and "The Great Gatsby", has penned the script along with Craig Pearce.
The project is set to shoot early next year in Queensland, Australia.
Meanwhile, the studio has postponed the release of Denis Villeneuve's "Dune". The film has been moved from November 20, 2020, to December 18, 2020.