Kate McKinnon to reportedly star in new series based off ABC News' 'The Dropout'

After launching the successful podcast and ABC News special based on former Theranos CEO Elizabeth Holmes, Hulu is working on a deal for a series that will star Emmy-winning actress Kate McKinnon.
5:11 | 04/12/19

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:

{{nextVideo.title}}

{{nextVideo.description}}

Skip to this video now

Now Playing:

{{currentVideo.title}}

Comments
Related Extras
Related Videos
Video Transcript
Transcript for Kate McKinnon to reportedly star in new series based off ABC News' 'The Dropout'
Reporter: From Hillary Clinton to Justin Bieber to former attorney general Jeff sessions. Snl's case Mckinnon has the ability to transform seamlessly. I made a steal, this is nothing. Reporter: Her latest role, a departure from her usual comedic chops to a very real supporty. She dropped out of Stanford at 19 to create theranos. Elizabeth Holmes and another executive await a criminal trial. Reporter: Mckinnon is slated to star as Elizabeth Holmes, the founder of the revolutionary blood testing company theranos. We will change our lives and our world. Here it is. The next Steve jobs. We've made it possible to run comprehensive laboratory tests from a tiny sample. Reporter: It's set to unfold in a hulu series based on "The dropout". Chronicling Holmes' rise and fall from grace. She's facing up to decades in prison for alleged fraud if convicted. But she seems to be unfazed by it all. Seen here in a video captured by "Inside edition", seemingly living it up with her new fiance, Billy Evans, and ditching that signature black turtle neck for white tee shirt and baseball cap. The two were at burning man. A lot of people think it was heartless that you were partying at burning man. Reporter: A reference to this Instagram selfie that her fiance posted at the festival. She has become a cultural phenomenon. Magazine cover after magazine blog post. Reporter: From a best-selling book "Bad blood", to documentaries, including the one on ABC. This was not how a young billionaire thought her empire would end. Her story as complex as it is fascinating. Black turtle necks. Blue eyes. Smoky voice. Elizabeth Holmes was a tech super nova who said she had an amazing invention. Making it possible to do any lab test from a tiny drop of blood from a finger. Oh, my god, this is a rocket Reporter: Reported to be the youngest female self-made billionaire. The golden girl of silicon valley. Part of the new time 100 list just out. Reporter: Only problem? It didn't work. This is a product that didn't work. Did Ms. Holmes know theranos could not do all those tests? She, yeah, she knew. Reporter: By 2017, Holmes, once the lavishly-praised cover girl found herself under the harsh glare of a very different kind of spot light. Please raise your right hand. Reporter: Forced to answer to the securities and exchange commission as she was investigated for an elaborate, years-long fraud. Do you swear to tell the truth, the whole truth and nothing but the truth? I do. Reporter: Suddenly, the woman who seemed to always have all the answers. We are the only lab company that is actually really focussed on leading with transparency. Reporter: Now had none. I don't know specifically. I'm not sure. I don't know exactly. Reporter: Claiming ignorance more than 660 times. I would be speculating. I just don't know. Reporter: Elizabeth Holmes, once valued at $4.5 billion now worth virtually nothing. She was able to put the magic spell on people with her big blue eyes and her deep voice. She would have been the next Steve jobs. Reporter: She settled with the sec with no admission of wrong doing but now faces charges from the department of justice. She has pleaded not guilty to all charges. As Holmes awaits a criminal trial, this fascination with this saga will live on in the upcoming portrayal by Mckinnon The limited series will be produced by fox search light which is owned by our parent company, Disney. The actor joins a pantheon of comedians who have transitioned from humorous roles to dramatic roles. Like Melissa Mccarthy going from brides maid. I need you to get $10,000. Oscar-nominated role in "Can you ever forgive me" and Steve carell. Mckinnon, a proven master of impersonation should have no trouble making the move. I am so incredibly humbled. Reporter: And nailing that infamous baritone. Our thanks to juju.

This transcript has been automatically generated and may not be 100% accurate.

{"duration":"5:11","description":"After launching the successful podcast and ABC News special based on former Theranos CEO Elizabeth Holmes, Hulu is working on a deal for a series that will star Emmy-winning actress Kate McKinnon.","mediaType":"default","section":"ABCNews/Nightline","id":"62350548","title":"Kate McKinnon to reportedly star in new series based off ABC News' 'The Dropout'","url":"/Nightline/video/kate-mckinnon-reportedly-star-series-based-off-abc-62350548"}