A studio spokesman on Monday confirmed that Universal had reached a deal for the film, directed by Danny Boyle. The project deal is said to be worth $30 million, according to the Hollywood Reporter.
It is still unclear why Sony Pictures, which as Hollywood Reporter notes was developing the movie for the past two years, rejected the biopic. The movie will be based on the 2011 biography Steve Jobs by Walter Isaacson and will be produced by Scott Rudin, Mark Gordon and Guymon Casady.
The Hollywood Reporter adds that Michael Fassbender is set to enact the character of Steve Jobs in the movie. Notably, Fassbender is the third actor in Hollywood to have been approached for the movie after Christian Bale and Leonardo DiCaprio, both of who declined for the role.
Michael Fassbender was last seen in movies such as 12 Years a Slave, in which he earned nomination for Best Supporting Actor in 2014 Academy Awards, and X-Men: Days of Future Past.
Reports have also suggested that Seth Rogen was roped in to play Apple co-founder Steve Wozniak. Meanwhile, Jessica Chastain was also said to be under consideration for a part in the same movie, though as of now which role she would play was not revealed.
It's worth noting that the upcoming biopic will be the second movie in recent times that will be based on Steve Jobs. The first named Jobs released last year and starred Ashton Kutcher.