The series adaptation will be made up of 10 episodes.
Last year, Murphy has signed a multi-year deal with Netflix to produce new original content exclusively for the streaming service.
Murphy also revealed that he and two-time Emmy winner Jessica Lange are working together on yet another new project which tells the story of Hollywood legend Marlene Dietrich.
Murphy has also announced that he is producing another miniseries that will be based on the classic Broadway musical A Chorus Line which had won nine Tony Awards in 1976.