HBO Max has announced that it will be progressing with the 'It' prequel series, which is currently referred to as 'Welcome to Derry,' as reported by Variety.

The news of the show's development first surfaced in March 2022, and Variety exclusively reported the addition of the co-showrunners in November. Andy Muschietti, Barbara Muschietti, and Jason Fuchs worked together to bring the series to the small screen.

Specific plot points are not being revealed, but the official synopsis states:

Taking place in the 'It' world created by Stephen King, 'Welcome to Derry' builds on the vision of Andy Muschietti seen in the films 'It' and 'It Chapter Two.'

The narrative for 'It' revolved around a group of buddies attempting to fight an ever-changing monster, seen as a demonic clown, in a small city in Maine. The timeline is divided between the characters as children and as middle-aged adults.

Fuchs exclaimed that having the possibility to re-enter the universe of his beloved horror novel and play a part in building the distinctively wonderful cinematic universe created by Andy and Barbara is more than a lifetime opportunity, it's a dream realized - or maybe a nightmare.

Variety reported that Fuchs is penning the script for the installment, having created the story. Andy will direct some of the episodes, including the inaugural one, with Fuchs and Kane acting as co-showrunners and executive producers. Shelley Meals, Roy Lee and Dan Lin are also involved in the project as executive producers. HBO Max and Warner Bros. Television are collaborating to produce the series, with the latter having an overall agreement with Double Dream.

Andy was the director of the two versions of 'It', and Barbara was the producer. Fuchs was a co-producer on 'It: Chapter Two.' Back in 1990, ABC produced a miniseries version of 'It' with Tim Curry's outstanding performance as Pennywise.