HBO's Michael Lombardo and Richard Plepler told members of the press that the new series would focus on the aerial battles in the Pacific, according to French website Telerama.
Steven Spielberg and Tom Hanks served as producers on 2001's Band of Brothers. The ten-part mini-series starred Damian Lewis (Homeland) and Michael Fassbender (Prometheus) and won six Emmy awards and a Golden Globe.
Follow-up The Pacific was produced by the same team in 2010. Starring James Badge Dale and Jon Seda, the series was again critically acclaimed, winning eight Emmys.
Other projects currently in development at HBO include drama pilot Criminal Justice starring The Sopranos actor James Gandolfini and thriller series Nutshell Studies from Guillermo del Toro.
Also in the works are comedy pilot Hello Ladies starring Stephen Merchant (The Office, Extras) and a social media satire by Armando Iannucci (Veep, The Thick of It).
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Watch a clip from Band of Brothers below: