Sherwood has teamed up with bosses at CBS Consumer Products for the project, which will feature a new story but still focus on the original characters.

Schwartz's children Lloyd J. Schwartz and Hope Juber, wrote the book, while Juber's husband, Wings guitarist Laurence Juber, composed the music.

CBS Consumer Products executives also announced plans to turn another classic sitcom, Cheers, into a stage production as well.

Dubbed Cheers Live on Stage, the show will showcase classic moments from the popular sitcom which starred Ted Danson as a Boston bar owner.