In what appears to be taking a cue from the success of "American Horror Story" on FX, Syfy will now be producing and airing it's own new horror anthology series titled "Channel Zero," according to Deadline.

The series will be following the "AHS" formula and featuring a new story every season with new characters (likely recurring throughout the series). Since "American Horror Story" originated with a haunted house theme in Season 1, many of the actors returned to play different characters in the following seasons.

This same theme may be inherent on the Syfy series, but only time can tell that. What's for sure, though, is that the first season of this series will be based on the short story Candle Cove, which was written by Kris Straub and had its origins within the Internet phenomenon known as Creepypasta.

The story is about a strange television show for children in the 1980's that has somehow played a role in a series of bizarre murders. It also delves into a man's dark secret, as written by Straub.

Executive Vice-President of Development at Universal Cable Productions Dawn Olmstead has shown considerable enthusiasm for the project and its Creepypasta origins.

"'Channel Zero: Candle Cove' is a season long imaginative and chilling horror anthology," Olmstead told Deadline. "With its first story deriving from the cult favorite creepypasta, and the visionary minds of Landis and Antosca, it is elevated horror at its best. I'm still haunted by the first episode. It's a chilling immersive ride."

The "Landis and Antosca" she was referring to was Max Landis ("Chronicle," "American Ultra") and Nick Antosca ("Hannibal," "Friday the 13th"). Landis will be producing the series and Antosca will be writing the script for Syfy.

Max Landis is the son of legendary film director John Landis, who directed films like "An American Werewolf in London," "The Blues Brothers," Michael Jackson's "Thriller" video and National Lampoon's "Animal House."