Javier Bardem & Penelope Cruz.
IN PHOTO: Actors Javier Bardem (L) and Penelope Cruz pose for photographers at a photocall for the film "The Counselor." Reuters

Its been revealed the husband and wife duo Javier Bardem and Penelope Cruz will star in the Pablo Escobar biopic titled, "Escobar."

The news came at the Cannes Film Festival Wednesday May 13 when EuropaCorp, Luc Besson’s film studio, revealed that they will finance, distribute and co-produce the film along with Pinguin Films and Dean Nichols Productions. Producers are Nichols, Bardem and EuropaCorp CEO Christophe Lambert. Jere Hausfater, Dany Boon and Todd Nichols will serve as executive producers.

"Escobar" will be based on the best-selling Spanish-language memoir "Loving Pablo, Hating Escobar" by Virginia Vallejo. The movie will be adapted and directed by Fernando Leon de Aranoa and will follow the rise of Pablo Escobar on his way to become one of the most powerful drug lords of all time. International sales for the film, which is expected to start shooting later this year, launch in Cannes.

Meanwhile EuropaCorp revealed a plethora of upcoming titles including: "The Transporter Refueled," the start of a new trilogy of the action franchise. "Shut In," a thriller starring Naomi Watts, a comedy titled "Nine Lives," which is directed by Barry Sonnenfeld and starring Kevin Spacey, Jennifer Garner and Christopher Walken. And lastly an action thriller titled "Twice" based on an original idea from Besson.

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