Academy Award-winning actor Jared Leto is set to portray the late Playboy founder, Hugh Hefner, in an upcoming biopic, according to The Hollywood Reporter. The film has been in the works since 2007 and is still in early development with director Brett Ratner’s BratRac Entertainment. Ratner acquired the rights to the film in 2015, with Hefner’s role originally attached to Robert Downey Jr. But Leto apparently expressed interest in the role. “Jared is an old friend,” Ratner said. “When he heard I got the rights to Hef's story, he told me, ‘I want to play him. I want to understand him.’ And I really believe Jared can do it. He's one of the great actors of today.”