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Ryan Seacrest & Paris Hilton Team – for TV Show

09/12/2008 at 10:50 AM EDT

Ryan Seacrest & Paris Hilton Team – for TV Show
Ryan Seacrest and Paris Hilton
Branimir Kvartuc/AP; Jeff Kravitz/FilmMagic
Ryan Seacrest and Paris Hilton might just be the busiest reality-TV personalities in showbiz.

PEOPLE has exclusively learned that Ryan Seacrest Productions and the 27-year-old reality-star extraordinaire Hilton – whose upcoming Paris Hilton's My New BFF airs on MTV this fall – have struck a deal to develop a series together – a scripted one.

For months, Hilton, Paris Hilton Entertainment's Jason Moore and Seacrest – who produces the hit E! series Keeping Up With the Kardashians, featuring Hilton's friend Kim Kardashian – have been in talks about the project. Details on the new series are not yet available.

Hilton's My New BFF – a version of which is also being developed in the U.K. – airs this fall on MTV. Meanwhile, Seacrest will join Project Runway's Heidi Klum hosting the Primetime Emmys Sunday, Sept. 21.

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