Looks like Apple, Inc. (NASDAQ:$AAPL) likes Steven Spielberg as much as any regular old movie buff.

The public has now been informed that Apple has struck a deal with Spielberg’s Amblin Television and Comcast Corp.’s (NASDAQ:$CMCSA) NBCUniversal television production unit to make new episodes of “Amazing Stories,” which is a science fiction and horror series that ran on NBC in the 80’s, according to people close to the matter. This will be Apple’s first major foray into creating original video content.

What do we know so far? There will be 10 episodes of “Amazing Stories” and Spielberg will likely be an executive producer for the reincarnated version of the show.

According to an executive involved in the ongoing project, the budget for the “Amazing Stories” series will be more than $5 million an episode.

“Amazing Stories” will be the first show greenlit by Apple since it poached Sony Corp. (TYO:6758) television executives Jamie Erlicht and Zack Van Amburg in June.

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Author Caroline Harris

About the author: Caroline Harris is a third-year student at Capilano University in North Vancouver, Canada. Having already completed an Associates Degree in Psychology, Caroline is now finishing her Bachelor's degree in Communications. In preparation for working in the advertisement sector, Caroline is writing financial content and analysis. On a daily basis, Caroline works on articles regarding the following topics: finance, cryptocurrency, technology, and politics.