Back in October, we heard that unnamed studios were expressing interest in developing either a movie or a television series based on Nick Bilton’s book Hatching Twitter: A True Story of Money, Power, Friendship, and Betrayal.

Lionsgate announced today that it is the studio that will be developing the story as a TV series, which will be executive produced by Allison Shearmur, who served as a producer on The Hunger Games.

“Twitter has transformed almost every aspect of our lives from politics to business to friendship, and I can’t think of a more compelling story to adapt for television right now,” said Kevin Beggs, Chairman of Lionsgate Television Group. “Nick’s book has all the elements of a great drama with its complex characters, high-stakes power struggles and betrayed friendships, and we’re extremely fortunate to have Alli Shearmur onboard as executive producer.”

“‘Hatching Twitter’ will go behind the scenes of a groundbreaking Silicon Valley company in a way that’s never been captured before on television,” said Shearmur. “‘The Social Network’ was a perfect film, and this series will be different, providing a longer view of the work life changes, gamesmanship and personal sacrifices made by a group of individuals who are building a company that will change the way that people communicate.”

“I am thrilled to work with Allison Shearmur and Lionsgate to adapt my book about the power, betrayal and billions of dollars that swirl through Silicon Valley,” said Bilton. “The story of ‘Hatching Twitter’ really speaks to a generation that has searched for friendship through technology and it will be very exciting to see it brought to life on screen.”

The network on which this show will appear has yet to be announced, but Netflix presumably remains a possibility. In October, when news came out of hollywood interest in Bilton’s book, TechCrunch reported that at least one of the studios wanted to explore producing the project as an HBO or Netflix series.

Sony was the only studio actually named in that report, and as noted at the time, Sony had recently made a deal with Netflix on another series form the creators of Damages.

Lionsgate, however, already has a relationship with Netflix as well. It’s the studio behind Orange is the New Black, officially Netflix’s most successful show so far.

Lionsgate also has shows on Showtime, ABC, AMC and History.

We’ll see what happens.

Image: HatchingTwitter.com