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Hide your cats, people, it looks like ALF may be making a comeback. "Remember Alf? Well he's back. In movie form!" - Identify that (modified) quote and attempt to wrap your mind around the thought of an ALF movie, because it sounds like Sony Pictures Animation is looking to make one happen.
THR posted the news, stating that Sony Pictures Animation has acquired the rights to ALF, the sci-fi sitcom from the 80's, which followed the (other '80's) Tanner family and the Alien Life Form (ALF) that crash landed on their property, and went on to take up residence in their home. Sony is aiming to develop the property into a hybrid CG/live action feature. Series creator Paul Fusco and producer Tom Patchett are said to be on board to produce the project, along with Jordan Kerner (The Smurfs).
It's probably fair to say that ALF contributed at least somewhat to my budding sense of sarcasm during my formative years. So, naturally, I feel a sense of nostalgic fondness for the puppet-aiien. Whether or not a movie can update the concept and the character properly remains to be seen, but having just seen Ted, I can't help but see the potential in an ALF movie. Though I expect this one to be a bit more family friendly, if the film is modeled after the sitcom. And as THR says Fusco is expected to return to provide the voice for the title character, I'm choosing to feel optimistic about this concept for now.
Answer to the trivia quote in the first paragraph: Milhouse Van Houten of The Simpsons (except in his quote, ALF was back in pog form.).