(CNN) -- If you thought Team Edward and Team Jacob was a heated match-up, just wait until Team Betty and Team Veronica.
Warner Bros. (which is owned by the same parent company as CNN) is going to produce a live-action film based on the iconic "Archie" comic series. This will be the first time in the comic's 72-year history that Riverdale's favorite teenagers will get a silver screen debut.
"We are thrilled to be working with Warner Bros. on this project," said Archie Comics co-CEO Jon Goldwater in a statement announcing the project. "[We] have complete faith in their ability to bring 'Archie' to the big screen in a way the fans will love."
Jason Moore - who directed the popular "Pitch Perfect" - will helm the project while Roberto Aguirre-Sacasa (who just finished writing the crossover mash-up "Archie Meets Glee") will pen the script.
The story will be set "in present-day Riverdale" and, according to Aguirre-Sacasa, will be more John Hughes than Frank Capra.
"'Archie' is the ultimate teenager, and this movie will be the ultimate teenage movie in the grand tradition of 'Sixteen Candles' and 'Ferris Bueller's Day Off,'" Sacasa said. "We are so grateful to Jon [Goldwater] for inviting us to this dance."