Amazon Studios today announced it has signed a development deal with iconic television producers Sid and Marty Krofft to develop a reimagined pilot of classic '70s children live action series Sigmund and the Sea Monsters. Here's what Amazon Studios Vice President Roy Price had to say in a statement.

"Sid and Marty are geniuses and we are honored to be working with them to bring to the world a return of what we believe is TV's most fabulous and funniest sea creature ever."

Marty Krofft also offered his own statement about the new Amazon Studios series.

"Sid found Sigmund swimming in the ocean as seaweed. Boy, are we lucky to re-create Sigmund and the Sea Monsters with Roy Price and Tara Sorensen at Amazon Studios."

Many of the most colorful and fondly remembered children's series of the 1970s and 1980s sprang from the imaginations of Sid and Marty Krofft. Their groundbreaking, live-action fantasy shows were mainstays of the Saturday morning airwaves, which had previously been the exclusive domain of cartoons. The Kroffts made their television debut in 1969 with NBC's H.R. Pufnstuf, which centered on the magical adventures of a boy named Jimmy, a talking flute and a six-foot dragon. The series, which introduced the brothers' innovative mix of live-action and puppetry, was made into a Universal Pictures feature in 1970. The show continues to be broadcast around the world.

Pufnstuf was quickly followed by The Bugaloos on NBC (1970) and Lidsville on ABC (1971). Sigmund and the Sea Monsters and Land of the Lost premiered on NBC in 1974 and in 1975, respectively. Later kids shows included Far Out Space Nuts, The Lost Saucer and The Krofft Supershow, which included installments of Wonderbug, Big Foot & Wildboy, Electra Woman & Dyna Girl, Dr. Shrinker and Kaptain Kool and the Kongs. Their slate of children's series gained notoriety with Pufnstuf ranking among TV Guide's top cult shows ever for two years and Land of the Lost's success in syndication leading to a remake of the series in 1991.

In the 1970s and 1980s, the Kroffts also found success as producers of popular primetime variety series such as The Donny and Marie Show, The Brady Bunch Variety Hour, Pink Lady and Jeff and the top-rated Barbara Mandrell & the Mandrell Sisters. Krofft puppets were also regular characters on other variety shows of the period. In 1984, the Kroffts made the bold move of giving comedian Richard Pryor his own award-winning Saturday morning children's series on CBS, Pryor's Place. Besides capitalizing on Pryor's irreverent humor, the show explored important social issues such as child abuse, divorce and the importance of reading. The Kroffts got political in 1987 with D.C. Follies, a satirical TV series lampooning current events with amazing, larger-than-life puppets of celebrities, politicians and newsmakers.