It's time to play the music, and it's time to light the lights -- a Jim Henson biopic is on its way.

Empire Film Group has announced the acquisition of motion picture production and distribution rights to Robert D. Slane's screenplay, appropriately titled Henson. The studio has earmarked a $30 million budget for the project, and plans to begin production this summer. Empire CEO Dean Hamilton Bornstein predicts great things:

"This is a major project about an entertainer of legendary stature and worldwide acclaim. The script is superb and should provide a terrific roadmap for a completed film that will satisfy both mainstream audiences and critics. We're very excited about this acquisition and the commercial caliber of this project."

According to Empire's press release, the film will cover Henson's life "from his early fascination with television as a teenager, through his spectacular career and life achievements." The studio says it "anticipates hiring a major director, such as Penny Marshall," and would like it very much if a major star or two decided to sign on the dotted line.

Though Empire hasn't made many waves in the marketplace yet (the first result Google gives you for the studio is a Marketwire article, curiously titled "Empire Film Group CEO Issues Update on Successful Colombian Trip"), and although it bears mentioning that the studio was responsible for the unfortunate Pam Anderson/Denise Richards movie Blonde and Blonder, everybody has to start somewhere, right? Anything paying tribute to Henson can't be all bad...