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Wednesday, April 7, 2010 as of 11:14 AM ET

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  • Charlie Sheen following Conan O'Brien to TBS?

    Look out CBS, Charlie Sheen is coming back to TV with a new show. And from the looks of his new character, it looks like he’s gunning straight for “Two and a Half Men.”

    RadarOnline.com reports that Sheen has signed a deal with Lionsgate Television, and that networks are currently in a bidding war to distribute the new comedy.

    FOX411: Sheen Puts Sober Valley Ranch Up for Sale.

    “Charlie has inked a deal with Lionsgate Television to create and star in a new sitcom,” an insider tells the entertainment site. “Charlie’s character will be very similar to the one he played on ‘Two And a Half Men,’ however the show will be a lot racier. Networks and cable are bidding on the show right now, with TBS being the front runner.”

    TBS recently raised its profile when it signed Conan O’Brien to anchor its late night programming after the comedian quit his job as host of the “Tonight Show.” Signing Sheen after his much publicized break with “Two and a Half Men” would mark a similar strategy in prime time.

    (Interestingly, both performers also went on comedy tours after they left their respective shows.)

    POP TARTS: Will ‘Two and a Half Men’ Tank With Ashton Kutcher?

    “Cable makes more sense because it offers more creative freedom,” the insider adds. “The show can be raunchier and more outrageous, which is perfect for Charlie.”

    The deal sounds like a winner for Sheen, too, should the show prove successful.

    FOX411: Sheen Mocks Kutcher Hire on ‘Two and a Half Men.’

    “Lionsgate … have committed to 10 episodes up front with the option to pick up and produce 90 more episodes if the ratings prove to be successful,” the source said. ” This means … that Charlie will make more money than ever before.”

    Sheen was making close to $2 million an episode when he was fired from “Two and a Half Men” following a war of words with the show’s executive producer, Chuck Lorre. Ashton Kutcher will replace Sheen in that show’s upcoming season.

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