(Cover) - EN Showbiz - Charlie Sheen has reportedly signed a deal to get back on to the small screen with a racy new sitcom.

The 46-year-old actor will pair with Hollywood studio Lionsgate for the new series which has not yet been named.

According to website RadarOnline, the troubled star will star in the new show which will be his first television gig since being fired from Two and a Half Men earlier this year.

"Charlie has inked a deal with Lionsgate Television to create and star in a new sitcom," a source told the 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 frontrunner. Cable makes more sense because it offers more creative freedom to be raunchier and more outrageous, which is perfect for Charlie!"

The actor, who has battled substance abuse problems over the years, is not set to receive the same $2million an episode paycheck he was cashing in before, but will likely get a lot more in the back end of the deal if the show does well.

"It's still a risk, but the risk is worth it because so many people are interested in Charlie and his wacky life they are bound to watch the show," the source shared.

Lionsgate is behind hit television shows like Mad Men, Weeds and Nurse Jackie.

They have also optioned releasing Charlie's recent live stage show that he embarked on after being fired.

Website TMZ are also now reporting that the actor's character in Two and a Half Men, Charlie Harper, will be killed off.

Ashton Kutcher who has joined the programme following Charlie's departure - will start filming scenes on August 5, but producers are already toying with the idea of having Charlie's character drive off a cliff.

His bitter battle with show creator Chuck Lorre has reportedly led to him wanting to ensure that Charlie can never return to the hit series.

The father-of-five is now said to be single again after his last "goddess" Natalie Kenley moved out of his Los Angeles home. (C) Cover Media