ABC snagged the series project after duking it out with other networks. It'll be exec produced by Schumacher, Topher Grace, Dan Bucatinsky and Jamie Tarses and to be written by Bucatinsky.
The iconic movie starred Emilio Estevez, Rob Lowe, Andrew McCarthy, Demi Moore, Judd Nelson, Ally Sheedy and Mare Winningham as friends who had just graduated from Georgetown University and were moving their way into adulthood.
"More than anything, the movie evokes a feeling that doesn't go away," Bucatinsky said, "the feeling of bonding with your friends who become your surrogate family."
The series version will use the movie as a takeoff point and as an inspiration as it introduces six new friends: three boys and three girls. What will remain is the setting -- Georgetown and St. Elmo's Bar & Restaurant, now called St. Elmo's Bar & Grill, where the friends hang out.
The 80s appear to be coming back with a vengeance this season as we also look forward to the do-overs of "Parenthood" and "V."

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