AceShowbiz -

Martin Freemanwill co-lead FX's limited series "Fargo". The title character depicter on "The Hobbit: An Unexpected Journey" has signed up to star on the TV adaptation of the critically-acclaimed crime film as Lester Nygaard, the sad sack who was portrayed by William H. Macy in the 1996 movie.

Lester is a small-town insurance salesman henpecked by his wife whose life is changed when he meets Lorne Malvo, who sets him on a path of destruction. Billy Bob Thornton has been earlier on board to play Lorne, who is described as a rootless, manipulative man.

The 10-episode drama will feature an all-new "true crime" story, with the series following a new case and new characters, all entrenched in the trademark humor, murder and "Minnesota nice" that has made the film an enduring classic.

Noah Hawley pens the script and will executive produce the limited series. Joel & Ethan Coen, who wrote, directed and produced the feature film, will also executive produce the show alongside Warren Littlefield and Geyer Kosinski. Production is scheduled to begin in October in Canada for a spring 2014 premiere.

Freeman has recently wrapped the filming for the upcoming third season of British series "Sherlock", on which he stars as Doctor John Watson opposite Benedict Cumberbatch. He will reprise his role as Bilbo Baggins in "The Hobbit: The Desolation of Smaug", slated to hit U.S. theaters on December 13.