The network intends to recreate the Broadway musical and film with a young, ensemble cast. Titled Grease Live, the three-hour event will broadcast on live television in 2015.
"From Broadway to film, and across generations, Grease is one of the most beloved musical stories ever told," event series vice president Shana C. Waterman says. "We can't wait to bring it to our air in a spectacular live event. Its iconic character and addictive songs make it the perfect fit for Fox, and we're going to give it the kind of star power and production quality to make every Sandy, Danny, Rizzo and Kenickie out there want to get up and sing along."
Grease debuted on Broadway in 1971, and a film adaptation was released in 1978. Grease the movie is the highest-earning movie musical of all time, and has grossed almost $400 million worldwide.
Paramount Television will produce the new, live adaptation. Company President Amy Powell calls the production an "epic television event," and says Fox's "passion for engaging audiences with bold storytelling and live musical formats make it a perfect home for this special broadcast."
Rival network NBC aired a similar event, Sound of Music Live, that was a huge success last December, when 22 million viewers tuned in to watch the program. NBC will follow up with a live performance of Peter Pan on December 4.