The new "Baywatch" movie will be directed by Steven Spielberg.

Movie rights to the popular TV series - starring David Hasselhoff, Pamela Anderson and Carmen Electra - has been bought by the legendary filmmaker, who is said to be very excited about bringing it to the big screen.

Spielberg, who has made cult classics like "E.T" and "Jurassic Park", plans to start shooting early next year. It is not clear whether any of the original cast members will appear in the film version.

'Baywatch' was launched in 1989 and became an international hit.