Brooks will team with MGM, which owns the rights to the movie, and the German company Berliner Film Co. Plans call for an animated TV series that will send up current sci-fi and fantasy movies such as "The Lord of the Rings" trilogy and George Lucas' "Star Wars" prequels.
"With all the fantasy stuff out there, there's plenty of grist for our mill," Brooks told Variety.
Brooks said he would be involved in producing the movie version of his hit Broadway musical "The Producers" until June -- and then spend more time on "Spaceballs." He will collaborate on the TV show with "The Producers" writer Thomas Meehan -- who co-wrote the "Spaceballs" movie.
Brooks said he would also reprise his voiceover role at President Skroob and Yogurt in the TV version of "Spaceballs."
The project is envisioned as a prime time show, either on network or on cable, said Variety, with a an hour-long pilot and 13 half-hour episodes.
Celebrity Families of 2014 [PHOTOS]