According to Deadline, the 68-year-old will play the film's central role as a Murdoch-esque media mogul.
The 'Dancing in the Street' singer apparently had the idea for the project, which will be produced by his company Jagged Films.
Currently titled Tabloid, the adult thriller has been written by History of Violence scribe Josh Olson.
This represents Jagger's first acting role since 2001's The Man from Elysian Fields.
Meanwhile, Olson most recently penned the first draft for One Shot.
Watch Mick Jagger in a clip from The Man from Elysian Fields below: