Stephen Trask, the composer and lyricist behind "Hedwig & The Angry Inch," and Chris D'Arienzo, the author of "Rock of Ages," are developing Martin Scorsese's film "King of Comedy" into a Broadway musical, according to the Hollywood Reporter.

"The King of Comedy," released in 1982, is a dark comedy directed by Scorsese and starring Robert De Niro and Jerry Lewis. The movie is about an aspiring comedian who kidnaps a talk show host in hope of forcing his way onto television. "The King of Comedy" is a cult classic, but it was a box office disaster, earning only $2.5 million, a fraction of its $19 million cost, according to Variety.

The studio behind the film, New Regency, will also back the musical, reported Deadline. "We are very excited to have Stephen and Chris on board to bring this classic film, with its quirky characters and contemporary themes surrounding fame and celebrity, to the Broadway stage," said New Regency's Bill Weiner, who is overseeing the project and leading the company's stage efforts.