Spencer will executive produce "The Bobby Love Story" and star as his wife while Kerry will produce.
The one-hour drama will be a true account of how an escaped convict, Bobby Love, was able to keep his prison past a secret from his wife of 35-plus years.
The Loves' story was featured in Brandon Stanton's "Humans of New York" blog in 2020.
Master thief Bobby was convicted as a young man but escaped to New York, changed his name, and committed to life as a model citizen, working multiple jobs, getting married, starting a family, and becoming the perfect neighbour, church member, husband, and father.
Bobby and Cheryl Love and photographer and blogger Brandon Stanton will also serve as executive producers.
Meanwhile, bosses at horror movie production group Blumhouse are working on a frightfest revamp of long-running British TV hit "I'm a Celebrity... Get Me Out of Here!".
Jason Blum and his partners have teamed up with the show's producers at ITV to pitch a new U.S. series, titled "Celebrity Castle", which will feature stars competing for glory in spooky surroundings.
According to Deadline sources, the idea took shape when the COVID pandemic forced "I'm a Celebrity" bosses to relocate the show from an Australian jungle setting to a castle in Wales, where the 2020 and upcoming 2021 seasons were shot.