James Cameron's 1994 hit action movie "True Lies" is heading for the small screen, as ABC has made a script deal for the project, which comes with a significant penalty attached, the network has confirmed to TheWrap.
Cameron's Lightstorm Entertainment will produce with 20th Century Fox TV, while Cameron himself will exec produce with Lightstorm's Jon Landau and Rae Sanchini.
Rene Echevarria is writing the adaptation and will serve as showrunner and co-exec producer if the network takes the script to series.
"True Lies" starred Arnold Schwarzenegger as Harry Tasker, a computer salesman whose family discovers his real job as a government spy. NBC has recently delved into spy territory with "My Own Worst Enemy" and the upcoming series "Undercovers," but ABC hasn't explored the genre since "Alias," which went off the air in 2006.
ABC previously tried to adapt the dueling spy film "Mr. and Mrs. Smith," but while the project was ordered to pilot in 2007, it didn't wind up going to series. The network is currently developing a reboot of the classic 70's show "Charlie's Angels," which has since been adapted as a successful film franchise.
Cameron hasn't had a TV series on the air since Fox's "Dark Angel" made a star out of Jessica Alba back in 2000, but I'm sure ABC has faith that the Oscar-winning director will live up to his self-anointed billing as The King of the World and deliver yet another hit.