The Coen brothers' upcoming music drama "Inside Llewyn Davis," starring Oscar Isaac, Carey Mulligan and Justin Timberlake, will be hitting screens later this year, as CBS Films has close a deal to acquire the North American rights distribution rights.

"Davis" centers on the 1960s NYC folk music scene, where an aspiring singer-songwriter ("Drive's" Isaac) attempts to launch a Dylanesque career. It also stars Isaac's "Drive" co-star Carey Mulligan and Justin Timberlake.

T Bone Burnett -- who worked on the brothers'  "O Brother Where Art Thou?" -- is the film’s executive music producer, while Timberlake also contributed to the soundtrack.

Interestingly, the film skipped the traditional film festival route and instead was screened for Hollywood insiders last week. A bidding war inevitable erupted, with CBS coming out on top, picking up "Davis" for a reported sum close to $4 million, according to Deadline.

No release date as yet been set for "Inside Llewyn Davis," but it's assumed that CBS will roll out the film toward the end of the year to capitalize on potential awards buzz. Supporting players include Coen regular John Goodman, Garret Hedlund and Oscar winner F. Murray Abraham.

"Davis" is the Coens' first film since 2010's Oscar-nominated hit "True Grit."