It's been over a year since we've heard from development on a potential 'Shannara' TV series, but at long last, the fantasy drama oft-discussed in the vein of 'Game of Thrones' has a home. Jon Favreau will develop a 'Shannara' TV series for MTV with 'Smallville' duo Al Gough and Miles Millar, but what chance does it have of moving to series?

According to The Hollywood Reporter, the adaptation of Terry Brooks' best-selling fantasy drama comes with a straight-to-series commitment, meaning if MTV approves the script, a 'Shannara' TV series would bypass the traditional pilot stage altogether. Favreau will direct and executive produce the project alongside Gough and Millar, while the latter two will write and executive produce if the adaptation goes to series.

For those unfamiliar with the 25-book series that began in 1977, the ‘Shannara’ series follows the titular family hundreds of years after the destruction of our own civilization, whose magical powers “perpetually reshape the future of the world.” Intriguingly, Favreau’s adaptation would adapt the chronologically second novel, ‘The Elfstones of Shannara,' as its first season.

"I believe we have formed the perfect team to bring Shannara to life onscreen," original author Brooks said of the newest incarnation. "The adaptation of these books is very important to me, and I believe we are on the right track in our endeavor to create an epic television series that both new and old fans of the books will love."

Worth noting is that Warner Bros. first obtained the rights to 'Shannara' in 2007 for a feature film, though they would lapse in 2010. Oops!

What do you think? Will MTV and Jon Favreau be able to capture 'Shannara' as the next great fantasy TV series? How would you like to see the long-running property handled in a TV incarnation?

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