John Logan, Academy Award-nominated writer of Gladiator, The Aviator and Sweeney Todd, is in talks to do the screenplay.

The expected release date and terms of the agreement were not disclosed.

An original property developed by 2K Games, BioShock is one of the most successful new interactive entertainment franchises to launch in recent years - selling more than two million units worldwide since its release in August 2007.

A sequel to the game, BioShock 2, is planned for a release in 2009.

Strauss Zelnick, chairman of 2K’s parent company Take-Two, it was exciting that the games’ vision will be carried forward in a new medium.

“BioShock has been hailed as one of the most highly cinematic and richly plotted titles in interactive entertainment, making it extremely well-suited to film,” Zelnick said.

“In partnering with Universal and Gore Verbinski, we have assembled a team that respects the uniqueness of BioShock and will translate it into a powerful movie experience.”

Zelnick said 2K’s ability to attract “a major studio and unparalleled creative team” spoke volumes about the strength of the BioShock franchise.

Videogame movies haven’t exactly had the best track record when it comes to satisfying film or game fans, but Christoph Hartmann, president of 2K Games, said BioShock would be different.

“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,” he said.

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