The studio has hired Jonathan W. Stokes (Blood Mountain) to write the screenplay, which has the working title David and focuses on his reign as the King of Israel, although the story will likely be set after he defeated the mighty Goliath. No specific story details were given at this time.
It is unclear if Ridley Scott will be attached to direct, since he is currently circling several other projects, such as The Martian, which has Matt Damon attached to star and will reportedly start shooting this fall, along with Prometheus 2. Even if he doesn't take the helm, Ridley Scott will produce through his Scott Free Productions company, alongside Peter Chernin's Chernin Entertainment.
Since Prometheus 2 already had a March 4, 2016 release date penciled in by 20th Century Fox, it seems likely that he will move on to that sequel after The Martian. The studio will likely wait to shoot David until Ridley Scott is available, but that doesn't necessarily mean he will direct.
Exodus: Gods and Kings, which stars Christian Bale as Moses, is set for release on December 12, and is just the latest in a resurgence of big-budget faith-based projects, following Paramount's Noah and 20th Century Fox's Son of God.