Adam McKay working on 'Archie' stage musical for Broadway

Writer-director Adam McKay and Funny Or Die have joined forces with Archie Comics to create a new Broadway musical.

McKay is writing the book for the show, with a creative team and timing for a New York run to be announced at a later date.

"Archie represents a bygone era of America. And like all bygone eras, there are elements we miss and elements that should be bygone. This will be a musical that deals with both those realities in a bright, colorful and slightly demented way," McKay said in a statement Wednesday.

"We couldn't be more excited to partner with Adam McKay and Funny Or Die to finally bring Archie to the stage. We've always thought that Archie was destined to be a big Broadway star -- and now that moment has come! I've long admired Adam's work and the pairing of Archie's world with his brilliant humor and sensibility is the perfect fit. We look forward to developing this project together with this incredible team," added Jon Goldwater, Archie Comics' chief executive officer and publisher.

McKay is known for directing the Anchorman films, Talladega Nights and Step Brothers, all of which he also co-wrote with longtime partner Will Ferrell. He is a former head writer of Saturday Night Live, one of the founding members of the Upright Citizens Brigade and the co-creator of the comedy website Funny Or Die.