The two are resurrecting and revamping Blitt's comedy "Becoming Glen," which was a 2002 pilot for Fox starring Johnny Galecki but passed on by the network, The Hollywood Reporter said Thursday.
Blitt admitted the 2002 pilot was not executed properly, but said he is very happy with the new script.
"This time I did it 100 percent the way I wanted to do it," he said.
CBS, NBC and Fox are all vying for the show this time around, The Reporter said.
"They all called me and are all very passionate about it," Blitt said. "I get very few calls, so they gave me an instant social life."
He described the show as "screwed-up 'Wonder Years' about a man in his 40s who looks back to the days when he was 32 and living with his parents doing nothing but lying around."