Producers David Permut and Steve Binder have picked up screen rights to Alanna Nash's 2003 book "The Colonel: The Extraordinary Story of Colonel Tom Parker and Elvis Presley."

According to Variety, Permut and Binder will develop a feature titled The Colonel based on the book about the man with shadowy origins who reinvented himself as the Svengali behind the world's most famous entertainer.

Parker started his showbiz career as a hustler on the carnival circuit before promoting Minnie Pearl and Eddy Arnold. Parker built Presley into a global music and film star -- and took 50% of the spoils.

Nash dug deeply into Parker's origins in the expose. While Parker always claimed to be American, Nash uncovered a past life in the Netherlands that included his possible involvement in the bludgeoning death of a female acquaintance.

Though that murder remains unsolved, Permut said the event may factor into the script because it's one explanation of why Parker left abruptly for America and rarely ventured outside the U.S. Presley famously never went on a European tour because Parker didn't want to go there.

No production date has been set.