Channel 4 boss Jay Hunt said she is "hugely excited" about the project, which is being written by "Fresh Meat" scribes Sam Bain and Jesse Armstrong.
Boyle directed the Olympic opening ceremony for the London 2012 games, as well as the films "Trance," "127 Hours," "Slumdog Millionaire" and "Trainspotting."
He also directed a celebrated stage production of "Frankenstein," starring Benedict Cumberbatch and Jonny Lee Miller.
The BBC said Boyle hasn't directed a scripted television program since the 2001 films "Vacuuming Completely Nude in Paradise" and "Strumpet."
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