It's finally happening: MacGruber 2 is in the works. The project, however, has taken a different form as it will, instead, be turned into a series on NBC's upcoming streaming service Peacock, which is set to launch later this year. Will Forte is returning to reprise the role, which he originated on Saturday Night Live before bringing him to the big screen. Forte is also set to executive produce the series.

We heard from Jorma Taccone in February 2019 that they were aggressively shopping MacGruber as a TV series, as opposed to another movie. Taccone revealed that they had begun developing a script in 2017, but it never materialized as a movie. Taccone directed the 2010 movie and is set to write and executive produce the series alongside John Solomon. Lorne Michaels, John Goldwyn, Andrew Singer and Erin David are also set as executive producers. NBC has released the following synopsis for the show.

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"After rotting in prison for over a decade, America's ultimate hero and uber patriot MacGruber is finally released. His mission: to take down a mysterious villain from his past, Brigadier Commander Enos Queeth. With the entire world in the crosshairs, MacGruber (Will Forte), Vicki and Piper must race against time to defeat the forces of evil. Only to find that evil... may be lurking within."

MacGruber was released theatrically in 2010. While the movie certainly didn't capture much critical love at the time (it currently boasts a 48 percent approval rating on Rotten Tomatoes), it has gone on to become something of a cult comedy classic in the decade since its release. Made for a budget of $10 million, the comedy grossed just $9 million, in total, at the box office. With that, progress on a follow-up has been slow going.

However, things have changed quite a bit in recent years. Netflix has dominated the industry and now every major studio in town is looking to get in on the streaming game. A big part of that for a service like Peacock will be desirable, exclusive content. People maybe wouldn't shell out to get see a new MacGruber movie, but if it pops up on a streaming service they're already paying for? That's an investment that could potentially pay off.

It's not yet clear if Kristen Wiig or Ryan Phillippe will reprise their roles from the movie as Vicki and Piper in the MacGruber TV show, respectively, should the show get a series commitment from NBC. There is no word currently on how far along the series is in the development process, nor is it clear when it would debut. Peacock will also play host to new takes on Saved By the Bell, Punky Brewster and Battlestar Galactica. Additionally, it will be the exclusive streaming home of hit shows like The Office and 30 Rock, amongst many others. We'll be sure to keep you posted as any further details on the project are made available. This news was previously reported by Variety.