EAMONN HOLMES DISCUSSES PHILLIP SCHOFIELD IN EXCLUSIVE INTERVIEW:
A source told The Sun: "A production company’s started work and they think the series would be a perfect fit for Channel 4.
"The storyline will reflect what went on," they added. "People have seen it from the outside but the drama will give a perspective on what may have occurred behind-closed-doors.
"It could make for uncomfortable viewing for Phil and ITV," the source continued, although Channel 4 is yet to publicly announce if such a show will air on the channel.
The reports have led bookmakers everywhere to predict who could play the presenter and none other than Happy Valley star and James Bond frontrunner James Norton has emerged as a likely candidate.
James Norton (left) has long been tipped as a frontrunner in the race to play Bond after Daniel Craig
According to Boylesports [via Metro], Norton is priced at just 4/1 to take on the role of Schofield should The Runner get off the ground.
He's joined in the running by a long list of other big names, including Michael Sheen whose chances stand at 6/1.
Meanwhile, the bookmakers are also offering prices of 7/1 on Steve Pemberton, 8/1 on David Tennant, and 9/1 on Line of Duty's Martin Compston to take on the part.
Spokesperson for Boylesports, Lawrence Lyons, said of the market: "The make-up department would have to add a few years to James Norton, but we reckon he could turn his hand to anything and we’d expect a blockbuster name to be the star of the show."
The identity of the next man to play 007 is still shrouded in mystery but Norton - alongside the likes of Aaron Taylor Johnson, Henry Cavill, Rege-Jean Page and Damson Idris - has long been tipped for the part.
The latest odds, via Oddschecker, has Norton at 9/2 to take on the role of Bond while Taylor-Johnson and Idris are priced at 3/1 each, and Cavill is narrowly ahead of the Happy Valley star at 4/1.
As well as its own inquiry, ITV has also instructed a barrister to conduct an external review of the circumstances surrounding Schofield's exit.
At the time of writing, the findings of the investigation have not been made available to the public as it continues.