Titled "The Heiresses", the project has been given a put pilot commitment, reported Variety.
The show will be a one-hour drama based on the best- selling book of the same name from author Sara Shepard, who also wrote "Pretty Little Liars."
King will pen the TV adaptation and serve as executive producer with Leslie Morgenstein and Gina Girolamo.
The ABC project hails from Alloy Entertainment, Long Lake Media and Warner Bros.
The series is described as a family soap with a mystery twist, set in the diamond world. The Saybrooks are a household name they've been blessed with great fortune, but cursed with epic loss. The events surrounding a deadly accident a year ago drove a wedge between the once-inseparable diamond empire heiresses, but when an unspeakable tragedy brings the cousins back together, they create a truly unbreakable bond.
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