The series is said to be written by House of Cards’ Jay Carson and hails from former HBO drama head Michael Ellenberg, as first reported by The Hollywood Reporter.
Ellenberg will executive produce the unnamed series through his TV production company Media Res.
Witherspoon and Aniston will also act as executive producers and be joined by Steve Kloves (Harry Potter), according to the report.
This would become Aniston’s first TV role since Friends. Witherspoon worked with Aniston on the show as a guest-star in a role as her younger sister.
The project is due to be shopped around Hollywood in coming weeks.