UPDATED: Billy Bob Thornton is set to star in FX’s first limited series Fargo, executive produced by Joel and Ethan Coen. A 10-episode limited series inspired by the Coens’ 1996 film, FX’s Fargo will feature an all-new true crime story, with the series following a new case and new characters, all entrenched in the trademark humor, murder and “Minnesota nice” that were the film’s trademark. Thornton will play Lorne Malvo, a rootless, manipulative man who meets a small town insurance salesman and sets him on a path of destruction. The character draws parallels to Peter Stormare’s Gaear in the movie. FX CEO John Landgraf confirmed that Fargo will end with its 10th episode and the characters won’t continue beyond the 10-episode run but a Fargo anthology franchise ala American Horror Story is “conceivable”. Produced by FX Prods and MGM TV, Fargo was written by Noah Hawley, who exec produces with the Coens and Warren Littlefield. MGM Television will be the lead studio and handle worldwide distribution of the series outside the U.S. and Canada.