Deadline reports that Port Royal, which was created by Hurd, will be set in 17th century Jamaica.
The project is expected to focus on Port Royal's status as the "richest and wickedest city", and the pirates, politicians and merchants living there.
Hurd has teamed up with Graham King to develop the project. King has previously produced movies including The Departed, Blood Diamond and Traffic.
As well as working on The Walking Dead, Hale's credits include the Terminator films and The Incredible Hulk.
The second season of The Walking Dead is due to air later this year.
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