Eugene Levy, Catherine O'Hara Eugene Levy, Catherine O'Hara

Pop has picked up their first original scripted series, Schitt's Creek, starring Eugene Levy and Catherine O'Hara, the network, currently known as TVGN, announced Tuesday.

The comedy will follow a formerly rich family that loses all its money in a Ponzi scheme and is forced to move into a motel in Schitt's Creek, a small town they once bought as a joke. Levy will star as video store magnate Johnny Rose and O'Hara will play his soap opera star wife Moira. Daniel Levy, who created the series with his father, will play their hipster son David and Annie Murphy will play their socialite daughter Alexis. Chris Elliottwill also star as the mayor of Schitt's Creek.

Fall TV popularity contest: Which new shows won you ever?

"This show answers the question — what would the Kardashians do if they woke up one day, completely broke?" Brad Schwartz, president of entertainment and media for Pop, said in a statement. "Not only is this project a clever cultural commentary where the 1 percent is suddenly the 99, but it fits right in the heart of everything we're building at our new network. It's a dream cast, it's hysterically funny, and it's sure to pop."

Schitt's Creek will premiere in early 2015 with 13 half-hour episodes.