EXCLUSIVE: Adult Swim has given straight-to-series order to Newsreaders, a spinoff of the network’s hit comedy series Childrens Hospital. Based on the “Newsreaders” episodes of Childrens Hospital that aired during seasons two and three, Newsreaders is a satire of the network television newsmagazine genre and explores the vital issues that actually don’t affect us every day, from hard-hitting investigations to harder-hitting heartwarming profiles. The series was created by the creative team behind Childrens Hospital: executive producers Rob Corddry, Jonathan Stern and David Wain.

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Jim Margolis, former co-executive producer of The Daily Show With Jon Stewart, has come on board to serve as showrunner and develop Newsreaders with Corddry, Stern and Wain. Production on the new series is set to begin in the summer. Newsreaders is produced by Stern’s Abominable Pictures and Warner Bros TV’s Studio 2.0. UPDATE: I hear Mather Zickel, who played Newsreaders anchor Louis La Fonda on Childrens Hospital, is set to reprise his role on the spinoff series. He is with Abrams Artists and attorney Lev Ginsburg.

In addition to his stint on Comedy Central’s Emmy-winning Daily Show, Margolis has a traditional newsmagazine experience — he worked as a producer for Lesley Stahl on CBS’ venerable 60 Minutes, whose style Newsreaders emulates. (Below is last fall’s Newsreaders episode of Childrens Hospital). Corddry and Wain are with WME and Principato-Young, Margolis and Stern with Principato-Young.