Alvin and the Chipmunks are ready to hit the ground running as the brand begins a new chapter.

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Big Shot Pictures has closed a joint venture with Bagdasarian Productions, which owns the property. Founded by Brian Robbins, Big Shot acquires 25 percent ownership stake in Alvin and the Chipmunks and will develop new projects for the franchise. This includes a big-screen feature that is beginning development and aiming for theatrical release in late 2028, timed to the franchise’s 70th anniversary.

A distributor has not yet been set for the planned movie. Big Shot’s Instagram account posted an image of a fresh design for Alvin and teased, “The Chipmunks are back.”

The new deal will also open the door for developing digital short-form content for YouTube and other platforms, in addition to music opportunities. Bagdasarian Productions’ Ross Bagdasarian Jr. and Janice Karman have led the franchise since the 1970s.

Created in 1958 by Ross Bagdasarian, the world of Alvin and the Chipmunks centers on Alvin, Simon and Theodore, three singing chipmunk brothers who live with Dave Seville, their manager and legal guardian. In addition to earning six Grammy Awards and launching multiple television series, the property spawned 20th Century Fox’s 2007 live-action musical film Alvin and the Chipmunks and three sequels. The movies notched nearly $1.5 billion collectively at the global box office, with the most recent title being 2015’s Alvin and the Chipmunks: The Road Chip.

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Former Paramount CEO Robbins launched Big Shot earlier this year, and the company landed a first-look theatrical distribution deal with Sony. Big Shot acquired the Eloise at the Plaza franchise and has an anime series in the works with YouTube creator IShowSpeed.

“Ross and Janice have built one of the most enduring brands in family entertainment history,” Big Shot Pictures CEO Robbins said in a statement. “We are thrilled to be partnering with the Bagdasarians to bring Alvin and the crew into the 21st century with the scale, creativity and energy they deserve.”

Added Bagdasarian Jr. and Karman in a joint statement, “We have guarded nearly seven decades of Chipmunk content, waiting for the right opportunity. Working with Brian and the incredible team he has assembled made this the perfect collaboration.”

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Wall Street Journal was first to report on the deal and planned movie.