The project will focus on famed gunslinger Doc Holliday and will see Howard reunited with writer and producer Akiva Goldsman, according to Deadline.
"I think that the line between film and television is getting blurrier and blurrier," said Goldsman. "I think that's pretty exciting creatively."
He added: "What I love about HBO is that storytelling seems to be king and that genre seems to be almost irrelevant."
Goldsman previously worked with Howard on such films as A Beautiful Mind and The Da Vinci Code.
The pair's new collaboration will focus on the love triangle between Holliday, his prostitute wife Kate Edler and his best friend Wyatt Earp.
The series will also deal with Holliday's ailing health, with the real life gunfighter having died of tuberculosis at age 36.
Adam Cooper and Bill Collage will script a potential pilot episode, based on Mary Doria Russell's recent novel Doc.
Howard will direct the pilot. The filmmaker is also working on a second project alongside Goldman, with the latest reports suggesting that their adaptation of Stephen King's The Dark Tower may also air on HBO.
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