Breaking: Warner Bros. Wins Bidding War for IN THE HEIGHTS Film

Yo, somebody won! According to Deadline, Warner Bros. Pictures is currently in the process of closing a $50 million dollar deal to acquire the film rights to Lin-Manuel Miranda's Tony Award-winning musical In the Heights.

According to the report, Warner Bros emerged victorious from a massive bidding war which included such media heavy hitters as Fox, Paramount, Sony, Disney, Netflix and Apple.

According to Deadline, the auction took place at the beginning of May, with executives and marketing departments making their case, and even going so far as to dress up backlots to portray rough visions for the film.

As previously reported, the rights reverted to authors Lin-Manuel Miranda and Quiara Alegria-Hughes following the sexual assault revelations against the Weinstein Company's former CEO, Harvey Weinstein.

It was previously reported that Quiara Alegría Hudes, who as nominated for a 2007 Tony Award and Pulitzer Prize for Drama for writing the book for Broadway musical IN THE HEIGHTS, requested The Weinstein Company relinquish its ties to the show.

Hudes was quoted saying, "As a woman, I can no longer do business with The Weinstein Company. Unfortunately, my musical In the Heights is tied up in the company.... I hope The Weinstein Company has enough grace, in the wake of these revelations, to respect my stand as a woman, and to allow us to extricate In the Heights from them."

The Tony Award-winning musical IN THE HEIGHTS features music & lyrics by Lin-Manuel Miranda and book by Quiara Alegría Hudes. The show opened on Broadway production in March 2008 and was nominated for 13 Tony Awards, winning four: Best Musical, Best Original Score, Best Choreography and Best Orchestrations. It won a Grammy Award for Best Musical Show Album and was also nominated for the 2009 Pulitzer Prize for Drama.