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Briefly: FX is moving into the limited series market with Fargo, inspired by the Joel and Ethan Coen movie of the same name. Fargo was the film that really put the Coens on the mainstream map almost 20 years ago, and this is the second time the film has been used as the basis for a TV show. The series being developed at FX isn’t exactly a TV remake of the Coen Brothers film, however, as it will feature new characters and crimes — the connecting thread will be the location and regional Minnesota quirks

The first casting news is just starting to come out, and Deadline reports that Billy Bob Thornton will play one of the lead roles. He’s Lorne Malvo, “a rootless, manipulative man who meets a small town insurance salesman and sets him on a path of destruction.” So he’s more or less the antagonist, somewhere between the Steve Buscemi and Peter Stormare roles from the film.

The other significant report to come out of the FX panel today is that while this run of Fargo will go for only ten episodes, success could help the show transform into an American Horror Story-style anthology that presents a new story and character set each season.

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