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HBO Max to Bring Harry Potter Series to Small Screen: Report

The show is in early development, according to the Hollywood Reporter.
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HBO Max is reportedly turning Warner Bros.' popular Harry Potter film franchise into a live action television show, according to the Hollywood Reporter. 

The show is in early development, according to THR sources, with only "broad ideas" having been discussed as part of early-stage discussions. 

No writers or talent are currently attached to the project, though executives at HBO Max and Warner at currently engaged in talks, according to the report. 

Warner and HBO Max representatives did not return a request for comment from TheStreet, but representatives told CNBC that "there are no Harry Potter series in development at the studio or on the streaming platform."

Warner Bros. is the studio that produced the 10 Harry Potter films that grossed $8.64 billion worldwide over the franchise's 17-year release frame, according to Forbes. 

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The books on which the movies are based grossed another $7.7 billion and toys related to the franchise brought in another $9.3 billion, according to Statista, making the franchise one of Warner's most lucrative intellectual properties. 

Earlier this year, AT&T  (T) - Get AT&T Inc. Report -owned Warner Bros. Picture Group said it will release all the new films on its slate on HBO Max simultaneously with their release in theaters this year. 

HBO Max subscribers will get an exclusive one-month access period for those new releases as part of the company's response to the coronavirus pandemic.

Once the month is over, the films will finish their theatrical runs after leaving the streaming service.

"No one wants films back on the big screen more than we do," said WarnerMedia Studios CEO Ann Sarnoff in a statement. "We know new content is the lifeblood of theatrical exhibition, but we have to balance this with the reality that most theaters in the U.S. will likely operate at reduced capacity throughout 2021.” 

Shares of AT&T were rising 0.5% to $29.08 on Monday afternoon.