The film will be produced by Clooney and Grant Heslov through their Smokehouse production company for Sony Pictures Entertainment. Shooting is slated to begin next year.
The last movie Clooney helmed was The Monuments Men.
"As the son of a journalist, George has a sharp interest in the role journalism plays in all of our lives -- whether that's for good, as in Good Night, and Good Luck, or for bad. With Hack Attack, George will explore the dark side of that world, a business where all of the rules of journalism are broken in the race for an easy and ever-larger payday," Michael De Luca, president of production for Columbia Pictures, said in a statement Wednesday.
"This has all the elements -- lying, corruption, blackmail -- at the highest levels of government by the biggest newspaper in London. And the fact that it's true is the best part. Nick is a brave and stubborn reporter and we consider it an honor to put his book to film," Clooney added.
De Luca will oversee the production for Sony Pictures.