"Jersey Boys" is about how Valli, Bob Gaudio, Tommy DeVito and Nick Massi, a group of blue-collar boys from the wrong side of the tracks, became one of the biggest American pop music sensations of all time. They wrote their own songs, invented their own sounds and sold 175 million records -- all before they were 30.
The musical stage play opened on Broadway in 2005 and is now playing worldwide, selling a total of more than $1 billion in tickets.
King and Tim Headington are producing the film to be written by stage play scribes Marshall Brickman and Rick Elice. Valli and Gaudio will executive produce the movie.
"'Jersey Boys' is one of the most electrifying stage shows any of us has ever seen and it has all the ingredients to become a big commercial hit movie," King said. "So to now be collaborating with the whole team -- Frankie, Bob, Marshall and Rick -- to bring that magic to the big screen is just a wonderful dream come true."
"We are extremely excited about the passion and commitment expressed by GK Films to take 'Jersey Boys' to another level. Graham King has been a believer from day one. We are in good hands," added Valli and Gaudio in a joint statement.
Notable deaths of 2014 [PHOTOS]