Bogart was the founder of Casablanca Records, a label that boasted such popular acts as KISS, Parliament, Donna Summer and The Village People. He died of cancer and lymphoma at age 39 in 1982.
"Spinning Gold" marks Timberlake's first venture as a feature producer. Timothy Scott Bogart, who also is writing the script, Evan "Kidd" Bogart, and Gary A. Randall, founding partners of Boardwalk Entertainment Group, also will produce, while Rick Yorn is serving as executive produceronthe project.
Additionally, Boardwalk Records is producing the album in conjunction with the movie, including classic hits re-imagined by some successful contemporary artists.
"This movie is literally three decades in the making, but we knew that without the perfect actor to bring our father to life on film, his essence and impact on the lives and careers he inspired would never be fully captured -- from the moment we met Justin, we knew we'd found our Neil Bogart. With Justin also a producer on the movie, together we're crafting this saga about a young dreamer who started with nothing and came of age in the 60s and 70s, believing anything was possible and every risk was worth taking. Though he died at only 39, he lived to see all his dreams come true," Boardwalk Entertainment Group partner, producer and screenwriter Tim Bogart said in a statement Monday.
Tim and Evan Bogart are Neil Bogart's sons.