It's been rumored to be happening for years, and every time the rumors have been just that.  The difference is now that a director's name has been announced by a major Hollywood studio, so it could actually be happening.

Fox Studios has announced that Bryan Singer will direct Bohemian Rhapsody with Rami Malek starring in the role of Freddie Mercury.  Singer is the talented director of The Usual Suspects, as well as the director/writer/producer of the X-Men franchise. Malek is best known for his role in Mr. Robot.

The film will chronicle the rise and fall of Mercury, the legendary Queen frontman. Fox has set the release date for Christmas Day, 2018.