Harry Potter is nearing a deal for an HBO online TV series

The famous series of seven fantasy novels, Harry Potter, written by British author J.K. Rowling, is nearing a deal for a new online TV series on HBO has been negotiated by Warner Bros. Discovery.

According to Bloomberg, this possibly resulted in a long-running franchise for the entertainment conglomerate.

Bloomberg's unnamed sources added that negotiations are still in their early stages, and Rowling has not yet signed off. Rowling is expected to have some role in the series as part of the agreement, ‘to ensure it remains loyal to her original material’, but will not be its primary creator or showrunner.

As the company prepares to host a presentation for investors and the general public next week on April 12, Warner Bros. Discovery is allegedly looking for the series to form part of the company's new streaming strategy.

The presentation will showcase its new streaming platform, which will combine HBO Max and Discovery+, as well as its upcoming slate of streaming programming.

Warner Bros. Discovery was in charge of the Harry Potter film series, which brought Rowling's books to the big screen between 2001 and 2011.

There were eight film installments in the highly successful franchise, beginning with Harry Potter and the Philosopher's Stone and ending with Harry Potter and the Deathly Hallows Part 2 and these eight films grossed a total of $7.7 billion at the worldwide box office.