Universal Pictures big wigs have acquired the rights to Prince’s music for an upcoming new movie inspired by the legend’s music. The studio made the announcement of its acquisition yesterday (December 3). They also announce that the movie will not be a biopic, but its a narrative like how ABBA’s songs inspired the “Mamma Mia!” movie franchise.

Although many details regarding the movie are still unavailable we do know that it will be executive produced by the entertainment advisor of Prince’s estate, Atom Factory’s Troy Carter. Its co-executive producer is Jody Gerson, chairman and CEO of Universal Music Publishing Group, the exclusive worldwide publishing administrator for Prince’s catalog.

The film’s title, release date and the songs that will be featured for its storyline have not yet been released. Universal Pictures has not yet selected a director, cast or production date. But we will keep you posted on all updates.