Jennifer Davisson will produce with DiCaprio through their Appian Way banner.
Phillips was a pioneer in the music industry during the 1950s as a producer who helped launch the careers of Elvis Presley, Johnny Cash and Jerry Lee Lewis.
Mick Jagger, Victoria Pearman, Steve Bing, Ian Montone, Rick Yorn and Peter Guralnick, who penned the novel, are also on as producers.
The studio is currently looking to attach a writer to the project. Sources also indicate this likely isn’t going to be DiCaprio’s next project; he’s still on the lookout for his next role after winning the Best Actor Oscar for his performance in “The Revenant.”
Paramount has been busy this week finding material for DiCaprio, who recently signed a first-look deal with the company. They recently landed the rights to a “Captain America” movie, which Appian Way will produce and Glenn Powell will write. Paramount has also secured rights to “Truevine,” with DiCaprio also on board to potentially star in.
DiCaprio is repped by LBI Entertainment. The news was first reported by Deadline Hollywood.