HBO Max is officially moving forward with the “It” prequel series currently titled “Welcome to Derry,” Variety has learned.

The show was first reported as being in development in March 2022, while Variety exclusively reported that the project had attached its co-showrunners in November. As previously reported, the series was developed for television by Andy Muschietti, Barbara Muschietti, and Jason Fuchs.

“As teenagers, we took turns reading chapters of Stephen King’s ‘It’ until the thick paperback fell to pieces,” said the Muschiettis. “‘It’ is an epic story that contains multitudes, far beyond what we could explore in our ‘It’ movies. We can’t wait to share the depths of Steve’s novel, in all its heart, humor, humanity and horror.”

Exact plot details are being kept under wraps, but the official logline states, “Set in the world of Stephen King’s ‘It’ universe, ‘Welcome to Derry’ is based on King’s ‘It’ novel and expands the vision established by filmmaker Andy Muschietti in the feature films ‘It’ and ‘It Chapter Two.’”

“To be able to return to the world of my all-time favorite horror novel and help build upon the singularly brilliant cinematic universe created by Andy and Barbara is more than the opportunity of a lifetime, it’s a dream come true — or, maybe more appropriately, a nightmare,” Fuchs said.

Fuchs is writing the teleplay for the first episode of the series, based on a story by him and the Muschiettis. Andy will also direct multiple episodes, including the first. Fuchs and Brad Caleb Kane serve as co-showrunners and executive producers, with the Muschiettis also executive producing via their Double Dream production company. The series is produced by HBO Max and Warner Bros. Television, with Double Dream currently under an overall deal at WBTV.

“I’m excited that the story of Derry, Maine’s most haunted city, is continuing, and I’m glad Andy Muschietti is going to be overseeing the frightening festivities, along with a brain trust including his talented sister, Barbara,” King said. “Red balloons all around!”

Andy directed both of the new “It” films, with Barbara having produced them. Fuchs was a co-producer on “It: Chapter Two.” The two new films collectively grossed over $1.1 billion at the global box office upon their release, with the second film taking place 27 years after the events of the first, with a new adult cast taking over from the kids in part one. “It” was previously adapted into a two-part miniseries for ABC back in 1990, featuring Tim Curry’s iconic performance as Pennywise.

“We are thrilled to continue this iconic franchise with the brilliant Andy and Barbara Muschietti, Jason Fuchs, and Brad Caleb Kane,” said Sarah Aubrey, head of original content for HBO Max. “This prequel will expand the ‘It’ storytelling canvas and bring fans deeper into the terrifying, mesmerizing town of Derry.”

Andy Muschietti and Barbara Muschietti are repped by WME and Johnson Shapiro Slewett & Kole. Fuchs is repped by WME, Brookside Artists Management, Pangea, and Bloom Hergott. Kane is repped by Kaplan Perrone Entertainment and Johnson Shapiro Slewett & Kole.

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