Fox has acquired the rights to reboot the iconic 'Baywatch' series, marking a significant commitment to reviving the long-standing franchise known for its blend of surf, sand, and lifeguard drama. The network has finalized a script and penalty deal with Fremantle for the new version of the series, described as 'action-packed'. Lara Olsen, known for her work on 'Spinning Out,' is set to serve as the showrunner for the reboot, promising to bring a fresh perspective to the beloved series.