They have optioned the rights to the comedy banner's story as well as the archives for the movie. It will be directed by Tirola. Usage of the archives will include using previously unseen footage. Shooting will commence next month.
National Lampoon began as the Harvard Lampoon magazine, which was popular in the 1970s, "before being spun off into a wide array of properties including books, radio shows, theater events and movies, notably National Lampoon's Animal House and National Lampoon's Vacation."