Update: Stream the entire 1.5-hour panel here.

After many rumors and every cast member either denying or confirming the future of Arrested Development at various stages, we finally have our first reputable news. The entirety of the major cast got together with series creator Mitch Hurwitz and narrator Ron Howard (who called on speakerphone) at the “The Bluth Family Reunion” Panel at The New Yorker Festival. Our contributor Adam Drosin was in attendance and we have exciting news to share below.

Hurwitz announced they will be doing a 10-episode season before the feature film. He didn’t announce how far along he is with writing this new fourth season, but he is halfway through the film script with co-writers Jim Vallely and Dean Lorey. As for the series, each episode will focus on a specific character and what they have been doing the last five years, but will include crossovers with other characters. He gave the example that Buster (Tony Hale) would go to therapy and his therapist (or should I say analrapist?) would be Tobias Fünke (David Cross). The series would lead up to a point where the film begins on all our major characters converging.

Considering how some of the actors have had a busy career since the show, the question was raised of availability and when asked, the entire cast nodded that they’ve cleared the schedule to shoot next summer. Jason Bateman then confirmed on Twitter that they will shoot 10 episodes and the movie will follow. He expects an early 2013 release, but the network on where these initial episodes will air, or the studio that will produce/distribute, haven’t been locked down either. Hurwitz said they don’t own the property outright and “there is still lots of business to do” and the logistics of having a studio working on a film and TV series simultaneously is difficult.

But there you have it. With ten more episodes and an average-length movie, we are looking at around 400 more minutes of my personal favorite TV show of all-time. Stay tuned for more updates as they arrive and check out a photo of the event below.

Are you looking forward to these Arrested Development plans?