For years, I had said to anyone who asked, to give it 3-4 years after the final Harry Potter film, and we’d hear of Warner Bros rebooting the series for film.

I wasn’t quite right, but the end result was much better than expected - announced last Thursday, Harry Potter author JK Rowling will be making her screenwriting debut, penning the first in a series of films, based off of the in-universe hand-guide called Fantastic Beasts & Where To Find Them.

The story will take place in the 1920’s, set in New York, and show us a purer wizarding world through the eyes of the author of Fantastic Beasts, Newt Scamander.

In what should come as no surprise, this film will be the lynchpin of a multimedia explosion, including related theme park rides and video games.

There is no set release for this film, but the full press release is below. Honestly, I can’t wait to see a surreal film equal parts Harry Potter and The Great Gatsby - even though I’m pretty sure the final movie will play it a bit more safe.

BURBANK, Calif. & LONDON—(BUSINESS WIRE)—Warner Bros. Entertainment today announced an expanded creative partnership with world-renowned, best-selling author J.K. Rowling. At the center of the partnership is a new film series from Rowling’s world of witches and wizards, inspired by Harry Potter’s Hogwarts textbook “Fantastic Beasts and Where to Find Them" and the adventures of the book’s fictitious author, Newt Scamander. The announcement was made by Kevin Tsujihara, Chief Executive Officer, Warner Bros. Entertainment.

“Fantastic Beasts and Where to Find Them" will be an original story and will mark Rowling’s screenwriting debut. It is planned as the first picture in a new film series. Set in the wizarding world, the story will feature magical creatures and characters, some of which will be familiar to devoted Harry Potter fans.

“Although it will be set in the worldwide community of witches and wizards where I was so happy for seventeen years, Fantastic Beasts and Where to Find Them’ is neither a prequel nor a sequel to the Harry Potter series, but an extension of the wizarding world,“ said Rowling. “The laws and customs of the hidden magical society will be familiar to anyone who has read the Harry Potter books or seen the films, but Newt’s story will start in New York, seventy years before Harry’s gets underway.“ (Expanded Rowling quote at bottom of release.)

“We are incredibly honored that Jo has chosen to partner with Warner Bros. on this exciting new exploration of the world of wizardry which has been tremendously successful across all of our businesses,“ said Tsujihara. “She is an extraordinary writer, who ignited a reading revolution around the world, which then became an unprecedented film phenomenon. We know that audiences will be as excited as we are to see what her brilliant and boundless imagination conjures up for us.“

In addition to the film series, “Fantastic Beasts" will also be developed across the Studio’s video game, consumer products and digital initiatives businesses, including enhanced links with Pottermore.com, Rowling’s digital online experience built around the Harry Potter stories.

The Studio’s expanded partnership with Rowling also covers the continued expansion of its Harry Potter activities, including the wonderful Wizarding World of Harry Potter theme parks in conjunction with partner Universal Parks and Resorts (currently in Orlando, FL; opening in Hollywood, CA and Osaka, Japan), digital initiatives (including Pottermore), video games, consumer products and visitor attractions.

In addition, Warner Bros. will serve as the worldwide TV distributor (excluding the U.K.) of J.K. Rowling’s upcoming television adaptation for the BBC of “The Casual Vacancy,“ her best-selling first novel aimed at adult audiences. This miniseries begins production in 2014.

The relationship will be managed in London by Neil Blair of The Blair Partnership, Rowling’s literary agency, and Josh Berger, President & Managing Director, Warner Bros. UK, Ireland and Spain, who will serve as Warner Bros.’ chief business contact for all J.K. Rowling initiatives going forward.

Rowling’s expanded quote regarding “Fantastic Beasts" is below:

“It all started when Warner Bros. came to me with the suggestion of turning Fantastic Beasts and Where to Find Them’ into a film. I thought it was a fun idea, but the idea of seeing Newt Scamander, the supposed author of Fantastic Beasts,’ realized by another writer was difficult. Having lived for so long in my fictional universe, I feel very protective of it and I already knew a lot about Newt. As hard-core Harry Potter fans will know, I liked him so much that I even married his grandson, Rolf, to one of my favourite characters from the Harry Potter series, Luna Lovegood.

As I considered Warners’ proposal, an idea took shape that I couldn’t dislodge. That is how I ended up pitching my own idea for a film to Warner Bros.

Although it will be set in the worldwide community of witches and wizards where I was so happy for seventeen years, Fantastic Beasts and Where to Find Them’ is neither a prequel nor a sequel to the Harry Potter series, but an extension of the wizarding world. The laws and customs of the hidden magical society will be familiar to anyone who has read the Harry Potter books or seen the films, but Newt’s story will start in New York, seventy years before Harry’s gets underway.

I particularly want to thank Kevin Tsujihara of Warner Bros. for his support in this project, which would not have happened without him. I always said that I would only revisit the wizarding world if I had an idea that I was really excited about and this is it.“