In the third season of FX's true crime anthology show "American Crime Story," viewers will witness the murder of Gianni Versace in 1997. Recently, showrunner Ryan Murphy confirmed the actress portraying his sibling, Donatella Versace.

According to E! News, Oscar-winning actress Penelope Cruz has signed on for the role of Donatella Versace for the upcoming installment of "American Crime Story."

Reports say that "American Horror Story" actresses Lady Gaga and Sarah Paulson were in the running for the role, but eventually Murphy confirmed that it will be portrayed by an Oscar-winning actress.

"American Crime Story" will be Cruz's first regular role on a TV show.

It has previously been reported that Edgar Ramirez will be portraying the late designer, the main character of the season, Gianni. Meanwhile, Darren Criss will be taking on the role of the murderer, Andrew Cunanan.

Showrunner Ryan Murphy will also serve as executive producer for this season, along with Nina Jacobson and Brad Simpson. The third season of the anthology will be based on "Vulgar Favors" written by Vanity Fair writer Maureen Orth.

"American Crime Story" made its debut in 2016, with the infamous murder trial of actor O.J. Simpson, winning five Emmy awards soon after. The second season of the show will be about the devastation of Hurricane Katrina. It will be based on the book written by Douglas Brinkley, titled "The Great Deluge: Hurricane Katrina, New Orleans, and the Mississippi Gulf Coast."

"American Crime Story" season 3 is expected to start production this April. Meanwhile, the installment is slated to debut sometime in 2018, following the second season of the show.

Although both the second and third seasons have yet to premiere, rumor has it that Murphy is working on the fourth season of show, which reportedly is about the highly publicized affair of Monica Lewinsky and Bill Clinton.

More updates should arrive soon.