Simon Pegg and Nick Frost are working on a new comedy series about paranormal investigators

The pair set up a production company called Stolen Picture and - as well as releasing a horror-comedy film called Slaughterhouse Rulez (more on that later) - they're working on a comedy series about a paranormal investigation team. Truth Seekers, which Variety reports is a "half-hour comedy-horror" will follow a three-person team of ghostbus... sorry, paranormal investigators, who take on a new monster each week.

“Each episode is going to be an adventure, a potential haunting or something,” said Pegg. “It’ll start as a very parochial idea, a very small business venture for these people, but it will expand as the series goes on to be something far more global. It’s a language everyone understands, the mystery of the unknown. ‘Shaun of the Dead’ was a very parochial story set in North London and somehow it managed to get this global reach because everyone understands the language of zombie movies.”

Chances are we'll see Slaughterhouse Rulez hit cinema screens first, though. The film, directed by Crispian Mills, is set in a posh private school and described by Pegg as "very satirical, very much about the U.K. selling itself off."

"It’s about fracking as well" he added, "and that unleashes some awful subterranean demon."

But why stop there? Pegg and Frost are also developing a film about a formerly successful double act who are now fading into obscurity having not spoken for decades. They decide to reunite one last time (hmm, wonder where they got this idea from?) and then basically just go with it.

“We’d like to do it as a two-hander and make it on a very low budget,” said Pegg. “We’ve had the idea for a long time, and we’re going to write an outline and then improvise and make something, which is far looser than when we work with Edgar…where every transition is so precise.”

They're not too worried about making it a blockbuster either: "I’d rather have a lot less money and make a film or a TV series and have a great time doing it than put it through a million processes and people you don’t know and you don’t respect creatively" said Frost.