Syfy is getting into the fairy tale business in a big way, and "Buffy The Vampire Slayer" star Felicia Day will star as a modern day descendent of Little Red who goes hunting for werewolves.

The new TV movie will be called "Red," and is set to premiere in 2011.

Kavan Smith and Stephen McHattie will also be in the telefilm.

Also in development for Syfy are retellings of "Hansel and Gretel," "Aladdin" and "Sinbad the Sailor."