The Time Bandits TV series is still happening and it just took a major step forward. We first heard that Terry Gilliam's 1981 classic was getting the small screen treatment last July. At the time, details were quite scarce, but it was revealed that Apple is behind the series with Gillian involved as a producer. Now we have word that Thor: Ragnarok director Taika Waititi has boarded the project as a writer, director and producer.

According to a new report, Taika Waititi is going to co-write the first episode of the series and direct the pilot. Beyond that, he will stay on board as an executive producer. Previously, it was reported that Terry Gilliam would be a "non-writing" producer, indicating his involvement might be minimal. This report indicates that he's going to be an executive producer as well and signifies that, perhaps, he may be a tiny bit more involved than we previously thought, which is probably good news for fans of the movie.

This is another big brick in the impressive wall that is becoming Taika Waititi's career. He broke out in 2014 with his comedic take on vampires, What We Do in the Shadows, which has been turned into a TV series on FX and debuts later this month. Waititi got a big boost after helming Thor: Ragnarok for Marvel, which went on to become a major hit, both critically and commercially. This year he's got another, smaller movie coming out in the form of Jojo Rabbit, which takes place during WWII and centers on a boy who has an inaccurate version of Hitler as an imaginary friend. Elsewhere on the small screen, Waititi is helming an episode of the Star Wars TV series The Mandalorian.

Time Bandits, the movie, for those who may not be familiar, centers on young history buff Kevin who is shocked when six dwarfs emerge from his closet one fateful night. These former employees of an entity known as the Supreme Being have got their hands on a map charting the holes in the fabric of time and are using it to steal treasures from different periods in history. Taking Kevin with them, they visit figures such as Napoleon, Robin Hood and King Agamemnon before the Supreme Being finally catches on. The cast includes John Cleese, Michael Palin, Sean Connery, Shelley Duvall, Ralph Richardson, Katherine Helmond, Ian Holm, Peter Vaughn and David Warner.

Currently, Apple has not ordered Time Bandits to series, as this new report is careful to note that this pilot will be for a "potential series," depending on how things go. Apple, much like Facebook and just about every other major company out there, is looking to compete with Netflix and get into the streaming game. That's going to require major investments and premium content. For now, there is no word on how soon production on the series will get going, but with the team coming together, it could be sooner rather than later. This news was previously reported by The Wrap.