Universal Pictures is ready to develop a live-action flick based on Sid and Marty Krofft’s 1970s children’s television show “Sigmund and the Sea Monsters,” according to Variety.

Dana Gould, a writer-producer on “The Simpsons,” will pen the script for the big-screen adaptation.

The original series focused on a sea monster named Sigmund, who’s kicked out of his home by his brothers because he’s apparently too nice. NBC started airing the show in 1973.

“Sigmund,” however, is not the first Krofft project to make the transition to the big screen. Universal is also currently working on Brad Silberling’s “Land of the Lost,” which is based on another popular ‘70s TV show.

“Lost” follows a group of people sent to a world inhabited by dinosaurs and other strange creatures. Starring Will Ferrell and Danny R. McBride, the film is scheduled to open in June 2009.