Steve Martin is returning to television, inking a three-year deal to develop and produce programming for indie studio Carsey-Werner.

Comic thesp-scribe Martin and production partner Joan Stein have established the Martin-Stein Co. to create series for C-W, home of the hit Fox skein "That '70s Show" and the NBC laffer "3rd Rock From the Sun." Duo will oversee production of projects to be co-developed with colleagues from the film and theater communities.

Deal, estimated to be worth low seven figures, brings Martin back to series television for the first time since 1986, when he served as exec producer of the short-lived CBS laffer "Leo & Liz in Beverly Hills." Martin's most notable small screen credit remains his stint as a scribe on "The Smothers Brothers Comedy Hour," which ran on CBS from 1967 to 1969.

Thesp most recently wrote and starred opposite Eddie Murphy in the pic "Bowfinger." His other feature credits include "L.A. Story," "Father of the Bride," "The Jerk," "Parenthood," "Dirty Rotten Scoundrels," "Pennies From Heaven" and "Roxanne."

Martin's 1998 tome "Pure Drivel" was a bestseller; his play "Picasso at the Lapin Agile" also drew positive notices. Martin has penned a series of op-ed pieces and columns for publications such as the New York Times and the New Yorker.

C-W partner Caryn Mandabach said the studio was ecstatic about inking Martin and Stein.

"Steve is not only one of the greatest comics of our time, but he is also a renaissance man," Mandabach said. "And Joan, who has a knack for finding and shaping quality work, has established herself as one of the most prolific producers in the business today."

Stein last year produced the Tony-nommed "The Lonesome West" and Tony-winner "Side Man." She first worked with Martin in 1994, producing "Picasso" in Los Angeles, New York and several other cities.

The good news: Steve Martin is returning to television for the first time since 1986, when he served as executive producer of "Leo & Liz in Beverly Hills," a six-week disaster with Harvey Korman and Valerie Perrine in the title roles.

The bad news, depending on your point of view: It's unlikely that he'll be in front of the camera.

Martin is a multimedia threat as movie star, recording artist, playwright, New Yorker writer, author and general, all-around satirist (we left out snappy dresser because that's a matter of taste). He'll develop and produce projects over the next three years for Carsey-Werner, which hit it big with "The Cosby Show" and now has "That '70s Show" at Fox and "3rd Rock From the Sun" on NBC.

HOLLYWOOD (Variety) - Comedian Steve Martin is returning to television for the first time since 1986 under a deal with indie studio Carsey-Werner, home of the hit comedies ``That '70s Show'' at Fox and NBC's ``3rd Rock From the Sun.''

Along with partner Joan Stein, he has established the Martin-Stein Co., which will develop and produce projects with colleagues from the film and theater communities.

The three-year deal is estimated to be worth low seven figures. Martin most recently worked on the small screen as executive producer of CBS' short-lived 1986 comedy ``Leo & Liz in Beverly Hills.'' His most notable small screen credit remains his stint as a scribe on ``The Smothers Brothers Comedy Hour,'' which ran on CBS from 1967 to 1969.

``I am very excited to be working with Carsey-Werner, but even more excited to be not dead,'' Martin said.

He most recently wrote and starred opposite Eddie Murphy in the 1999 picture ``Bowfinger.'' His other feature credits include ``L.A. Story,'' ``Father of the Bride,'' ``The Jerk,'' ``Parenthood,'' ``Dirty Rotten Scoundrels,'' ``Pennies From Heaven'' and ``Roxanne.''

Martin's 1998 tome ``Pure Drivel'' was a bestseller; his play ``Picasso at the Lapin Agile'' also drew positive notices. Martin has penned a series of op-ed pieces and columns for publications such as the New York Times and the New Yorker.