No, it was a fictional story inspired by a New York Times article, headline read, "Metal-Head becomes Metal-God."
As per MTV.com, it's a 1997 story by Andrew C. Revkin about Tim "Ripper" Owens, a devout Judas Priest follower from Ohio who played in a Priest cover band.
Sources suggest that Warner Bros. decided to make a movie out of it, a movie about a real life person or a band. They wanted Judas Priest to write music for the soundtrack. However, the group wanted creative input on the film, and that soured the deal, said Revkin, who was hired as a creative consultant for the movie.
At that point Warner Bros. turn it into a fictional story to cut off any lawsuits.
While movies based on real-life events could technically be considered yet another category of “recycled” content, when placed in the hands of the right director and actors, the truth can be far more compelling than fiction.
Check out these 15 best movies inspired by true events from Complex.com.