The Dictator star Sacha Baron Cohen was originally set to play the iconic Queen front man before he quit over creative differences with surviving band mates Brian May and Roger Taylor - and now the Harry Potter actor could take on the part.
An insider told the Daily Star newspaper: "Daniel has be told the part is his if he wants it.
"Despite his youth, Daniel has impressed movie bosses with his portrayal of gay poet Allen Ginsburg in this year's movie Kill Your Darlings.
"Plus, he's closer in height to Freddie than Sacha, who's much taller. Daniel can really sing, too."
Producers are said to be prepared to offer a lot of money to the 24-year-old star - who is a gay rights advocate - and it could be his biggest pay day since the Harry Potter saga.
There were concerns the movie wouldn't go ahead after screenwriter Peter Morgan suggested its release was doubtful following the Bruno star's departure, but these fears were alleviated in a statement from filmmakers.
It was previously written on Twitter: "Makers of the Freddie Mercury biopic tell the BBC the film is 'still very much alive' despite writer Peter Morgan's claims to the contrary. (sic)"
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