‘Dynasty’ is reportedly the latest classic series which could be coming back to our TV screens.

Josh Schwartz and Stephanie Savage, the pair who created teen dramas ‘Gossip Girl’ and ‘The O.C.’, are said to be working on a reboot of the iconic drama for network The CW.

Joan CollinsJoan Collins starred in ‘Dynasty’

E! News reports that Schwartz and Savage will be teaming up with Esther Shapiro and Richard Shapiro, the creators of the original series, for what’s been described as a ‘modernised’ reboot.

The log-line for CW series reads: "The Rolls Royce of all primetime soaps, returns in a modernised reboot that follows two of America's wealthiest families, the Carringtons and the Colbys, as they feud for control over their fortune and their children.

"The series will be told primarily through the perspectives of two women at odds: Fallon Carrington—daughter of billionaire Blake Carrington—and her soon-to-be stepmother, Cristal—a Hispanic woman marrying into this WASP family and America's most powerful class.

"In an age where dynasties appear everywhere—from reality TV to the polling booths—this epic drama features the one percent in all its glitz and gloss, while exposing the dark underbelly: a corrupt world built on backroom deals, betrayal, and, in some cases, murder.”

‘Dynasty’ originally ran from 1981-89 on ABC and starred Joan Collins, Linda Evans, John Forstyhe and Pamela Sue Martin. It’s currently unclear if any of the show’s classic characters will make an appearance in the reboot.