Colin Firth will star in Oscar Wilde biopic The Happy Prince.

The King's Speech actor will portray the legendary Irish writer's friend and confidant Reginald "Reggie" Turner, with Rupert Everett lined up for the role of the playwright, and and he will also write the script and direct the movie.

The Happy Prince - which will feature Emily Watson and Tom Wilkinson - tells the story of Oscar's final days as he looks back on the disasters of his life with his dry humor and characteristic wit, according to The Hollywood Reporter.

Rupert is making his directorial debut in the film - which is planned to start shooting in 2013 - and he previously starred in Oscar's adaptation The Importance of Being Earnest in 2002 and An Ideal Husband in 1999 alongside Colin.

Colin has also signed up to star as flamboyant actor and playwright Noel Coward in a new comedy drama movie Mad Dogs and Englishmen, which tells the story of Noel's two weeks at The Desert Inn in Las Vegas in 1955, where he performed in front of huge crowds.