Steven Spielberg's highly-anticipated new sci-fi series, "Terra Nova" has a premiere date of May 23rd, with a subsequent episode being shown the next night. From there, fans will have to wait until the fall season to follow the Shannon family as they travel back to prehistoric times to save the human race. Will a nation be able to survive the whole summer on the edge of their seats? Fox is betting they will.

The Hollywood Reporter picked up the premiere announcement at TCA today, although Fox has already picked up 13 episodes of "Terra Nova," because when Spielberg said, "jump," Fox execs saw the smart move was to simply ask, "how high?" Fox has faced disappointment this season, with two of three new fall shows ("The Good Guys" and "Lone Star") getting the early axe. They have announced a plan to focus more on show development, something that is apparent with "Terra Nova" coming online in a few months.

Though "Terra Nova" is on budget, that budget is very, very high, with the pilot expected to cost $20 million, though that number will be amortized over subsequent episodes. Consequently, Fox is expected to throw its full weight behind the series as it films in Australia. While "event television" has been far from a sure thing, it's a safe bet that the early premiere of "Terra Nova" will have people talking about Fox going into the historically quiet summer months. What they'll be saying is another story.(Hollywood Reporter)