Reports suggest that a deal is nearing completion on the creation of a Harry Potter TV series a decade after the conclusion of the film franchise.

It has also been suggested that best-selling author JK Rowling is being approached to produce the new show, though a deal has not been made yet.

Rowling wrote the first Harry Potter book, The Philosopher's Stone, 26 years ago, having published it in 1997.

The book then became a global phenomenon with a book and film franchise following this success.

News Shopper: (PA) JK Rowling has reportedly been approached to produce the Harry Potter series on HBO(PA) JK Rowling has reportedly been approached to produce the Harry Potter series on HBO (Image: PA)

The films concluded in 2011 with Harry Potter and The Deathly Hallows: Part 2.

Reports of a new TV series come from Bloomberg which alleges that Warner Bros Discovery, which owns HBO, wishes to create a series based on the popular wizarding world.

The news agency claims that these reports come from someone with knowledge of the matter with each season of the show to be based on each book.

It is said that Warner Bros Discovery CEO David Zaslav and HBO boss Casey Vloys are trying to convince JK Rowling to get involved in the project.

A source said that JK Rowling would not get involved in the show in a central capacity but that she would ensure the show 'remains loyal' to the original texts.

Bloomberg said that Warner Bros declined to comment. This comes days ahead of a major announcement by the giant.

Fans react as HBO Harry Potter TV series reportedly in the works 

Fans were quick to take to social media to express their thoughts on the new series with many holding reservations.

One user posted a picture of all the Harry Potter films accompanied by a tweet reading: "Warner Bros is rebooting HARRY POTTER at HBO.

"Each season of the series will be based on one of the 7 books.

"I can’t believe this…the franchise is perfect. Why reboot??? Is nothing sacred?"

Another jokingly asked: "Why is Warner Bros rebooting Harry Potter into a HBO show?" followed by a picture of money-loving Spongebob character Mr Krabs with the caption "Money."

However, one user was more optimistic, adding: "I’m not saying we need a Harry Potter series on HBO, but let’s all be real, the movies are not good adaptations of the books…"