NBC chairman Bob Greenblatt just made the announcement at TCA. Craig Zadan and Neil Meron, the executive producers behind NBC’s live musical franchise, return. I hear the deal closed minutes before NBC’s TCA presentation. Zadan and Meron also produced the 2007 Hairspray movie. This will be NBC’s fourth consecutive live musical, following The Sound of Music, Peter Pan and The Wiz.

Following the blockbuster ratings success of The Sound of Music, numbers slipped for Peter Pan before rebounding for The Wiz.