Olsen Twins Star in New Offscreen Roles

By Stephen M. Silverman

Wednesday April 16, 2003 01:20 PM EDT

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The mighty reach of mini-moguls Mary-Kate and Ashley Olsen is extending even further.

The publishing, production and apparel giants -- who are both 16 -- have closed a deal with the ABC Family Channel to executive produce a TV movie that is intended to serve as a launching pad for a new series, says the Hollywood Reporter.

The Olsens will also host and executive produce a series of four hourlong fashion specials for ABC Family through their company, Dualstar Productions.

Their audience is the 'tween (between adolescence and puberty) and young-adult market.

In addition, the twins, who shot to fame on ABC's "Full House," are wrapping up another deal with an unspecified Disney-owned cable outlet. They will executive produce a series of adult-oriented original movies aimed at an older female audience, says the trade paper..

"We've always dreamed of producing projects for other stars, and our dream has come true," Mary-Kate Olsen said in a statement.

Ashley Olsen called the prospect of developing original series "a challenge we're really up for."

Currently, the girls are said to be cramming for their college-entrance exams, and ABC Family development executives are preparing to meet with writers in coming weeks to get their projects rolling.