"A television series allows us the time and creative freedom to bring this colorful world, and all the implications it had and still does on our society, to life," the Oscar winner says of the project.

Gangs of New York is heading to the small screen.

Martin Scorsese, Miramax and GK Films are teaming to develop a television adaptation of his Oscar-nominated 2002 feature, the company announced Thursday.

The potential series, which does not have a network attached, will draw from the events in the Leonardo DiCaprio, Cameron Diaz and Daniel Day-Lewis film and take place at the turn of the 20th century. The story will take place in New York and other cities including Chicago as the show explore's the birth of organized crime in America.

“This time and era of America’s history and heritage is rich with characters and stories that we could not fully explore in a two-hour film,” Scorsese said of Gangs, for which he earned a best director Oscar nomination. "A television series allows us the time and creative freedom to bring this colorful world, and all the implications it had and still does on our society, to life."

Added Miramax chairman Richard Nanula: “No one better exemplifies what the new Miramax is and will be better than Martin Scorsese. His dedication to quality and the art of storytelling continues to excite everyone that works with him and watches his films and television programs."

The series would mark Scorsese's latest small-screen venture, joining HBO's Emmy-nominated period gangster drama Boardwalk Empire, which will bow its fourth season this year.

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