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Warner Bros. won a bidding battle for the bestselling novel series “Gossip Girl,” with the studio setting “Freaky Friday” star Lindsay Lohan to play the title character and “Gilmore Girls” creator Amy Sherman-Palladino to write the script.

The Cecily von Ziegesar novel is about a rivalry among a group of ultra-rich girls on Manhattan’s Upper East Side. The protagonist is Blair Waldorf, a beauty who is the envy of her friends. Unfortunately, her perfect world unravels as her bitter rival gets kicked out of boarding school and returns to Blair’s private school. Lohan will play Waldorf.

The deal marks the first major feature writing pact for Sherman-Palladino since she hatched WB series “Gilmore Girls.” The deal follows on the heels of the series’ renewal for a fifth season (Daily Variety, Dec. 18), with Sherman-Palladino continuing as show runner.

“Gossip Girl” will be produced by 17th Street Prods., a division of Alloy Entertainment, which developed the book series. The company also developed book series “Sisterhood of the Traveling Pants,” which is set up at WB with Ken Kwapis directing and Delia Ephron scripting. Leslie Morgenstein, who is 17th Street prexy, will produce, while Bob Levy will be co-producer. Endeavor repped all the elements and WB exec Jessica Goodman will steer the project.