Ryan Seacrest and Paris Hilton Team for New TV Show

Ryan Seacrest and Paris Hilton might just be the busiest reality-TV personalities in showbiz.

PEOPLE has exclusively learned that Ryan Seacrest Productions and the 27-year-old reality-star extraordinaire Hilton – whose upcoming Paris Hilton's My New BFF airs on MTV this fall – have struck a deal to develop a series together – a scripted one.

For months, Hilton, Paris Hilton Entertainment's Jason Moore and Seacrest – who produces the hit E! series Keeping Up With the Kardashians, featuring Hilton's friend Kim Kardashian – have been in talks about the project. Details on the new series are not yet available.