AceShowbiz -

Actor Will Ferrell has signed to star in "Land of the Lost," a comedy feature based on the 1974-1977 television series of the same name. Universal, for which the star will play, has reportedly acquired the feature rights from the film executive producers of the original NBC series, Sid and Marty Krofft, who will produce the feature for the studio.

In addition, Jimmy Miller and Julie Wixson-Darmody also will produce via the Mosaic Media Group banner. Even more, Adam McKay, a former "SNL" writer who directed Ferrell in "Anchorman," is attached to direct, with Chris Henchy and Dennis McNicholas signing on to adapt the screenplay.

To note, the series will focus around forest ranger Rick Marshall and his children, Will and Holly, who are caught in a time vortex while rafting on the Colorado River and transported to a mysterious world populated by dinosaurs. The feature film, to add, will be an update of the series, which is due out on DVD this month.