Amazon And Lions Gate Developing TV Show Based On Bob Dylan Songs

"Take care of all your memories. For you cannot relive them." –Bob Dylan

Despite his own prudent cautionary words, this insight may not be as true as Dylan once suspected.

Amazon.com, Inc. AMZN and Lions Gate Entertainment Corp. (USA) LGF are developing a TV series based on Bob Dylan’s songs, themes and characters. According to a source familiar with the issue, the companies have permission to use any of the legendary artist’s songs for the hour-long drama series.

It should be noted that Dylan is not involved with the production of the series. But, "Don't think twice/It's all right" – the show will be directed and written by Australian filmmaker Josh Wakely. Production will be spearheaded by both Wakely's company Grace: A Storytelling Company and Lions Gate. However, the Wall Street Journal reported, Amazon has yet to sign a deal to make a pilot. Financial terms of the deal were not disclosed either.

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What we do know so far is that the show has been initially titled “Time Out of Mind,” after Dylan’s 1997 album – not to be confused with Richard Gere’s 2014 movie titled the same.

An interesting detail: Previous to this project, Wakely managed to licensed worldwide rights to the Beatles songs for an upcoming Netflix, Inc. NFLX animated series called “Beat Bugs.”

Shares of Amazon were trading up more than 1 percent on Thursday afternoon; shares of Lions Gate were up almost 2 percent.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.