Grease is the word — or at least it will be when the hit 1950s-set musical comes to Fox next year as a live three-hour television event.

According to The Hollywood Reporter, Fox has ordered a televised production of the 1971 Broadway hit, to feature “a young ensemble cast,”; with casting yet to take place.

“From Broadway to film, and across generations, Grease is one of the most beloved musical stories ever told — and we can’t wait to bring it to our air in a spectacular live event,”; said Shana C. Waterman, Fox senior vice-president of event series, in the announcement. “Its iconic characters 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.”;

The idea of airing a live Broadway-style musical on TV is suddenly all the rage, thanks to the massive ratings of NBC’s Carrie Underwood-starring Sound of Music Live, which racked up a whopping 22 million U.S. viewers when it aired in December.

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“It’s incredibly exciting to have one of our first major network productions be based on this universally celebrated Paramount title, and we’re thrilled to be partnering with Kevin, Joe and Shana on this epic television event,” added Paramount TV president Amy Powell (Paramount owns the film and TV rights to Grease). “Fox’s passion for engaging audiences with bold storytelling and live musical formats make it a perfect home for this special broadcast.”;

The iconic film version of Grease, starring John Travolta and Olivia Newton-John, has reportedly grossed nearly $400 million since its release in 1978.