While the expected release date and terms of the agreement were not disclosed, Verbinski has been nailed down as director and producer, while John Logan, the Academy Award-nominated writer of Gladiator, The Aviator and Sweeney Todd, is in discussions to pen the screenplay.

"BioShock fans appreciate the depth and complexity of the game, and our partnership with Gore Verbinski will introduce the world of Rapture to an even wider audience,” said 2K Games president Christoph Hartmann.

“In addition to his impressive body of work, Gore is an avid videogamer and true fan of BioShock. That was extremely important to us in deciding to move forward with this project."

BioShock received numerous Game of the Year awards during 2007 and was hailed for, among other things, its rich visual detail and Art Deco style. Set in an underworld utopia gone wrong, the creepy shooter really struck a chord with reviewers, earning the Xbox 360 version of the title a MetaCritic rating of 96. It has sold more than 2 million units worldwide since releasing in August 2007 and a sequel is planned for release in 2009.

“Our ability to attract a major studio and unparalleled creative team speaks volumes about the strength of our BioShock franchise,” said Take-Two Chairman Strauss Zelnick.

“It also demonstrates how Take-Two is delivering value based on our strategy of creating and owning our industry"s most powerful intellectual property."

Check out Edge’s Reel Gaming feature for a comprehensive run-down of all the major games making their way to Tinseltown.