Hunter S. Thompson's 1959 novel "The Rum Diary" looks to be finally making it to the big screen reports the trades.

Warner Independent Pictures and GK Films have acquired all rights to the late author's autobiographical first novel for Johnny Depp to star in and produce.

"Rum Diary" is loosely based on Thompson's experience working as a freelance journalist in Puerto Rico in the late '50s.

Depp will play a reporter who works alongside a motley crew of self-destructive scribes at a struggling San Juan newspaper. An erotic love triangle soon begins.

Bruce Robinson ("Withnail & I") is writing the adapted screenplay and directing. The book was first published in 1998 and originally set for film adaptation back in 2000.

Benicio Del Toro, Nick Nolte and Josh Hartnett were all previously attached to the project over the years, but are no longer.

Shooting will begin when Depp's next film, Mira Nair's crime drama "Shantaram," wraps. No dates on either film is yet set.