Paramount TV and Michael Bay’s Platinum Dunes will collaborate on the series, which has received bids from multiple buyers, Deadline reports.
Transformers filmmaker Bay will produce the project, which will represent a contemporary take on the CIA character.
Further details of the series have yet to be revealed.
The character has been the subject of multiple films in the past, including 1990’s The Hunt For Red October and 2013’s Jack Ryan: Shadow Recruit.
Jack Ryan has been played by some of Hollywood’s biggest names over the years – Alec Baldwin, Harrison Ford, Ben Affleck and, most recently, Chris Pine.
Source: Digital Spy