Penelope Cruz to play famous designer in 'Versace: American Crime Story'

She'll take on the role of Donatella Versace in FX's Ryan Murphy anthology

Anthony Harvey Getty Images Karwai Tang WireImage Penelope Cruz left and Donatella Versace

The second season of FX's American Crime Story, about the aftermath of Hurricane Katrina, has yet to set a premiere date.

There was some speculation that Murphy might tap singer Lady Gaga for the role of Donatella.

But now all is forgiven, as Murphy traded in the American stunt casting for a European acting treasure - by which we mean Oscar winning actress Penelope Cruz!

Gianni Versace, who will be played by Edgar Ramirez (The Girl on the Train, The Bourne Ultimatum) in the FX series, was killed outside of his Miami Beach home by serial killer Andrew Cunanan.

Versace: American Crime Story is the third installment in the Emmy-winning anthology series from Ryan Murphy, Nina Jacobson and Brad Simpson. In the meantime, we've always got Gina Gershon's gloriously overwrought version of the character in the 2013 Lifetime movie House Of Versace. This marks Cruz's first Murphy project. Since marrying fellow Oscar-winning Spaniard Javier Bardem in 2010, Cruz has been flying under the radar, appearing previous year in the ill-fated Zoolander 2. She has a number of firsts to her credit as well, including the first Spanish actress to receive a star on the Hollywood Walk of Fame, and the first Spanish actress to receive an Academy Award, which she won in the Best Supporting Actress category in 2009 for her role as painter Maria Elena in Vicky Cristina Barcelona. The season is based on Maureen Orth's book "Vulgar Favors". Tom Rob Smith, who most recently wrote the BBC show London Spy, will write several episodes and serve as a co-producer.

The limited series show, created by Ryan Murphy, centers each season around a famous true crime - the first season was the award-winning "The People v. O. J. Simpson"; the second season, now in development, focuses on the aftermath of Hurricane Katrina. She just finished filming Murder on the Orient Express.

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