The film has been in development since 2004. No casting has been announced, although Tom Cruise is reportedly interested in the film, which concerns "a regular guy who, after a blow to the head, suddenly can hear the inner songs of everyone’s heart as his reality is instantly turned into a musical, much to his dismay."
Michel Hazanavicius, who directed the Academy Award-winning "The Artist," will direct. No production schedule or release dates have been announced.
As previously reported, the film will have songs by Oscar winner Bret McKenzie (Flight of the Conchords), who won his Academy Award for the Muppets song "Man or Muppet."
Producers, according to the industry source, include Tripp Vinson, Chris Bender, JC Spink and Beau Flynn.
Chabon's novels include "The Amazing Adventures of Kavalier and Clay," which won the 2001 Pulitzer Prize for Fiction. He contributed lyrics to the 2015 album "Uptown Special."
Among writers who have worked on the script throughout its time in development are Mike Bender, John August, Lowell Ganz and Babaloo Mandel. Oscar winners Robert Lopez and Kristen Anderson-Lopez — the husband-and-wife songwriting team behind the international hit "Frozen" — were also previously attached to the project.