Apple is turning the 1981 Terry Gilliam-directed fantasy film “Time Bandits” into a new original series and we’re hearing it’s signed director Taika Watiti who worked on “Thor: Ragnarok”.

Apple’s adaptation, currently in development, will be co-produced by Paramount TV, Anonymous Content and Media Rights Capital. Waititi will not just direct, but also co-write the pilot and executive producing alongside Gilliam and producer Dan Halsted.

Here’s the plot, briefly, courtesy of Variety:

The original film told the crazy, multi-dimensional story of an English youngster, Kevin, who discovers his wardrobe contains a time hole. A group of six dwarfs come through the hole and proceed to lead Kevin on a series of adventures across history, making stops in ancient Greece, the Middle Ages, Napoleonic times and the early 1900s, before confronting Evil when they arrive at the Fortress of Ultimate Darkness.

The film starred Gilliam’s fellow Monty Python collaborator John Cleese, as well as Sean Connery and ‘The Lord of the Rings’ actor Ian Holm.

The original Time Bandits film starred Sean Connery, John Cleese, Shelley Duvall, Ralph Richardson, Katherine Helmond, Ian Holm, Michael Palin, Peter Vaughn and David Warner.

The original Time Bandits film was made by Handmade Films, the film production company that former Beatles guitarist George Harrison hatched with Denis O’Brien. After the company dissolved over mounting debt, “Time Bandits” remained a quirky cult favorite for years to come.

Apple should start releasing its original programming projects later this year.

Image courtesy of Handmade Films / The Kobal Collection