A new television series version of the "Terminator" film franchise is in the works, four years after "Terminator: The Sarah Connor Chronicles" wrapped up on Fox, The Hollywood Reporter’s Live Feed reports.

The new series is being developed in conjunction with the upcoming fifth installment in the movie franchise.

"Skydance Productions and Annapurna Pictures are teaming to bring the Arnold Schwarzenegger franchise back to TV," THR reports. "The producers behind the upcoming fifth installment have tapped ‘Thor’ and ‘X-Men: First Class’ writers Zack Stentz and Ashley Miller to write and executive produce a new Terminator television series that will be a companion piece to the rebooted trilogy."

The report adds: "The TV series will follow a critical moment from the first ‘Terminator’ film (1984), and where the film’s story goes one way, the upcoming series will take the same moment in a completely different direction. As the rebooted film trilogy and the new TV series progress, the two narratives will intersect with each other in surprising and dramatic ways."

The first four "Terminator" movies have grossed more than $1 billion in combined worldwide box office receipts.

THR adds: "The TV series will be produced by Annapurna’s Megan Ellison and Skydance’s David Ellison alongside Skydance chief creative officer Dana Goldberg and TV chief Marcy Ross. Laeta Kalogridis and Patrick Lussier will executive produce. Kalogridis and Lussier also will pen the first feature in the upcoming ‘Terminator’ trilogy, which will be directed by Alan Taylor and released via Paramount Pictures on July 1, 2015."