The Chaser team is returning to ABC TV with an original news analysis show called The Hamster Wheel.

The show will examine the contemporary media landscape, "where everyone from journalists to political fixers is perpetually at risk of spinning out of control," according to an ABC statement.

Eight 30-minute episodes will go into production this week.

They will premiere on ABC1 later this year.

"I just can’t wait to get my hands on the ABC credit card again," executive producer Julian Morrow said in a statement.

"When it comes to dodgy uses of other people's money, Craig Thomson's got nothing on The Chaser team," he added.

Asked about the Chaser team's return to ABC TV, managing director Mark Scott said: "This is the most humble day of my life."

The Chaser team's last ABC series - the controversial Chaser's War On Everything - wrapped in 2009.