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One magical day in February 2014, the world learned that Warner Bros. had hired a writer and producer to work on Space Jam 2, with LeBron James in mind as a star.

Then: Nothing for a long time. Today, though? Something! LBJ and his SpringHill Entertainment company have signed a big deal with WB, one that includes "projects in TV, film and original digital content," according to Variety.

Brian Windhorst, who covers the NBA for ESPN, was quick to point out the real upshot of the news: "Warner Bros. owns rights to Space Jam. There's been attempts by production companies to get LeBron to star in a reboot in recent years."

Capital New York's Alex Weprin also notes that Warner filed for new Space Jam trademarks in June, which is all we need to whip ourselves into a Roadrunner-ish frenzy and start blasting that inimitable 1996 soundtrack CD. The one where Jay Z wrote a rap for Bugs Bunny.