Apparently, the main setback in getting this project started was securing music rights. That is where Sony ended up being involved, as producer Cary Brokaw went to the studio, which released his last two pictures, as a go-between in dealing with Davis' Columbia Records catalog (Sony Pictures and Columbia Records are owned by the same conglomerate). But the film will not be produced by the studio; Brokaw will reportedly be financing it independently. I predict, however, that in the end it will be distributed by Sony Classics.
Writing the screenplay for the bio are Chris Wilkinson and Steve Rivele, the Oscar-nominated duo behind other biopics, such as Nixon, Ali, Copying Beethoven and an upcoming film about Jackie Robinson. Depending on Cheadle's talent as a director -- we will see his handiwork first with next year's Tishomingo Blues --- he could very well go on to win an Oscar (or two!) for this project. We already know that he's an amazing actor and that the Academy loves biographical roles, so this is obviously a film that should generate buzz even before the thing has its first day of shooting.