Fox to Air Grease Live Musical As Yahoo confirms it has 2 new comedy series in works By Rob Quinn, Newser Staff Posted Apr 29, 2014 12:04 AM CDT 1 comment Comments John Travolta, right, and Olivia Newton-John in a scene from the film "Grease." (AP Photo/Paramount Pictures) (Newser) – Fox is following NBC into the live musical game with a three-hour adaption of Grease set to air some time next year. The event will feature a young ensemble cast and will be based on the 1971 Broadway musical, according to the Hollywood Reporter. The musical's "iconic characters and addictive songs make it the perfect fit for Fox, and we’re going to give it the kind of star power and production quality to make every Sandy, Danny, Rizzo, and Kenickie out there want to get up and sing along," gushes a network exec. NBC may cry "copycat" after the huge success of its live version of The Sound of Music last year, though Fox could counter that its own Glee series brought musicals back to prime time, notes Entertainment Weekly. In other TV news, Yahoo announced last night that indeed it will enter the world of original video, reports the New York Times. The company has commissioned two comedy series that will be aired exclusively on its website and apps. A spokeswoman says the company plans to at least break even on the venture, which will cost up to $1 million per episode.