Danial Radcliffe, Rupert Grint and Emma Watson in 'Harry Potter and the Deathly Hallows - Part 1'. Image Credit: Supplied

Don’t get your wands out just yet. After reports that a web series based on the successful ‘Harry Potter’ franchise is in early stages, Warner Bros and HBO Max seems to have burst that bubble.

“There are no Harry Potter series in development at the studio or on the streaming platform,” Warner Bros and HBO Max said in a statement.

On January 25, the internet lit up with news that a reboot for streaming service HBO Max was being explored. The Hollywood Reporter reported sources saying that executives at the streamer were in discussions with potential writers for ideas.

At this point, it’s unclear which part of the Harry Potter timeline this potential series would explore, nor who would act in it.

The movie series distributed by Warner Bros first kicked off in 2001 with ‘Harry Potter and the Philosopher’s Stone’, which was followed by seven more films. The series, based on the books by JK Rowling, is one of the highest grossing film franchises of all time.

Some fans were sceptical about whether a TV reboot was even needed after seven books and eight movies that have kept fans entertained from 1997, when the first novel released, until 2011, when the final film ‘Harry Potter and the Deathly Hallows – Part 2’ hit screens.

The most recent projects to come out of the Wizarding World are the prequel movies ‘Fantastic Beasts and Where to Find Them’ and ‘Fantastic Beasts: The Crimes of Grindelwald’, both starring Eddie Redmayne as wizard Newton “Newt” Scamander. An as-yet untitled third movie is currently in the filming stage and it set to release in 2022.