Fresh off a Tony Award for Best Lead Actor in a Play in All the Way, actor Bryan Cranston may be bringing his buzzworthy performance as President Lyndon B. Johnson to the small screen.  Deadline reports that Steven Spielberg is in the process of optioning the stage play for a miniseries adaptation through his Amblin banner, and he wants Cranston to reprise the lead role.  Cranston has been drawing raves on the stage for his performance as LBJ in a story that spans the first year of Johnson’s administration, and it appears that Spielberg sees great potential in bringing the story to a wider television audience.  More after the jump.

[Update: Deadline reports that the deal indeed came through, as HBO Films will produce a feature film adaptation of All the Way for HBO with Cranston reprising the lead role.  Robert Schenkkan will write the screenplay, while Steven Spielberg will executive produce.]

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Deadline notes that it’s currently not clear where the potential All the Way miniseries would end up, but Spielberg has a pretty strong relationship with HBO having produced the Band of Brothers and The Pacific miniseries at the pay cable channel.  One imagines the network would be happy to bring Cranston into the fold, so my money is on All the Way eventually airing on HBO.  Playwright Robert Schenkkan wrote All the Way as well as a follow-up LBJ play The Great Society, covering the years 1964-1968, so it’s possible that this miniseries adaptation could cover some of that material as well.

There’s no official confirmation that Cranston will be reprising the role in miniseries format and the option isn’t even done yet, but this is a rather promising prospect.  Cranston recently wrapped up a phenomenal run on Breaking Bad, but he’ll be back in the Emmy fold this fall as the second half of the final season is up for awards consideration.

As for his upcoming slate, Cranston is next set to lead the Dalton Trumbo biopic for director Jay Roach (Recount) alongside Helen Mirren, and he also has a role in documentary filmmaker Errol Morris’ narrative feature debut Holland, Michigan opposite Edgar Ramirez and Naomi Watts.