Greg Berlanti, executive producer of The CW shows "Arrow" and "The Flash" and his production company sold the rights to a TV adaption of the "Archie" comics drama "Riverdale" to Fox, the Seattle Pi has learned.

"Riverdale," which is also the name of the fictional town the "Archie" comics characters reside in, will be written by the Chief Creative Officer of "Archie" Comics, Roberto Aguirre-Sacasa.

The series will explore the love triangle between Archie, Betty and Veronica and their adventures with their friends Reggie, Jughead, Josie and the Pussycats, Kevin Keller, Archie comics' first openly gay character, and more.

Set in the present time, the series will offer "a bold, subversive take on Archie, Betty, Veronica and their friends," Deadline reports. The characters will explore "the surreality of small-town life - the darkness and weirdness bubbling beneath Riverdale's wholesome façade."

Fox is developing the modern-day one-hour drama for television, according to the The Hollywood Reporter . "Archie" comics publisher and co-CEO Jon Goldwater called it "a historic moment for Archie Comics, and we couldn't be happier to partner with Fox, Warner Bros. and Greg Berlanti to bring our characters to television."

"The entire team working on 'Riverdale' is as passionate about Archie as Jon and I are, so it feels like the stars have finally aligned for Archie and the rest of the gang," Aguirre-Sacasa said.

Aguirre-Sacasa, who has worked on TV series "Glee" and big-screen film "Carrie," was named Archie Comics' CCO in March. He has also written Archie's two best-selling horror series "Aferlife With Archie" and "Chilling Adventures of Sabrina."

Berlanti is currently working on "Arrow" and "The Flash", as well as an upcoming TV series for CBS featuring DC Comics superheroine, Supergirl.

The "Archie" comic book franchise debuted in 1942 and has had several animated adaptations, live-action series and spin-offs, such as "Sabrina the Teenage Witch."