Dec. 11 (UPI) -- Australian writer, director and producer Baz Luhrmann will adapt The Master and Margarita.
Deadline reported Wednesday that Luhrmann, 57, has secured the rights to the 1967 novel by Russian author Mikhail Bulgakov.
Luhrmann has partnered with the rights holders, Svetlana Migunova-Dali and Grace Loh. The trio will produce the film with Natalia Rogal.
In addition, Luhrmann may also direct the adaptation. Michael Lang, Nevin Shalit, Andrew Fourman, Ellen Goldsmith Vein and Lindsay Williams will serve as executive producers.
"Stretching back almost 20 years, I've had an incredible connection with the story of The Master and Margarita and have long sought the rights to this extraordinary book," Luhrmann said. "I'm thrilled to finally have the opportunity to do an interpretation of this groundbreaking work."
Luhrmann confirmed the news in a tweet Wednesday. He posted a depiction of the Master and Margarita character Behemoth and a quote from the book, "Manuscripts don't burn."
The Master and Margarita was written during Joseph Stalin's regime in the Soviet Union. The novel is a satire of Soviet society, a revision of Christian history, and a love story spanning space and time.
Luhrmann is known for directing Romeo + Juliet, Moulin Rouge! and The Great Gatsby. He will direct an upcoming biopic about Elvis Presley starring Austin Butler as the late singer.