According to the publication, the TV show will be a prequel to the original story and take place both at Hogwarts and around Europe.
So far, any plot details are being kept hidden away in the secret vault at Warner Bros but we do know it will feature a set of all-new characters (sorry, no Harry, Ron or Hermione).
Don't expect to hear anything about a Harry Potter TV show anytime soon, because in TV land 'early stages of development' means they are still months away from announcing anything.
In other Harry Potter related news, rumours have run wild that a movie based on The Cursed Child is in the works... with whispers that the OG THREE will be joining the cast.
While nothing has seriously been confirmed, Daniel Radcliffe (Harry Potter himself), has in fact heard of the news and IS KEEN TO REPRISE HIS OLD ROLE!!!
"I'm never going to say no to something that would make this the thing that in 10 to 20 years times someone's like, 'BUT YOU SAID NO THAT ONE TIME' or 'YOU SAID YES THAT ONE TIME'... I literally don't know."
However, the interviewer asked Daniel if he's interested and YES MA'AM, HE IS!
"I guess yeah! I'm interested in finding out."
Daniel explained that he was only just told about the news as he was walking into the interview, so he didn't know much YET... but honey gurrrrls he is KEEN.
The best part is that although Daniel is like 500 years older than he was back when the first movies came out, any Cursed Child fan would know that it is set in the future when Harry is a father. So the timing works perfectly.
Bring back Harry, Hermonie and Ron - NOW.