EXCLUSIVE: New Regency today acquired rights to turn the Jim Henson series Fraggle Rock into a feature film. The property was shopped and caught the interest of studios, before New Regency made the deal for a film that will be produced by The Jim Henson Company and the Montecito Picture Company. The series premiered on HBO in 1983, ran for five seasons and was broadcast in over 80 countries. It revolved around puppet characters Gobo, Wembley, Mokey, Boober and Red, who lived in Fraggle Rock. They interacted with humans who thought they were aliens.

New Regency was recently reconstituted by Arnon Milchan, who brought in Brad Weston to put together a slate of filmmaker-driven films that are mostly geared for adults. However, the Alvin And The Chipmunks franchise has been lucrative for New Regency, and this was an opportunity to add another family film franchise. It is not immediately clear whether the film will use puppets or be a CG/live-action mix. New Regency and the producers are figuring that out now and will set a writer shortly.