Now that giving away a million bucks on TV has become old hat, a new game show is about to offer a prize of $1 billion.

The program will begin with 1,000 contestants who'll be pitted against each other using "skills of nerve and chicken" to stay in the competition.

The series will conclude with a single person possibly walking away with the monster prize.

Michael Davies, who produces Who Wants to Be a Millionaire, and the WB network are collaborating with Pepsi on the show, which is set to debut in September.

Contestants can qualify for the game by buying specially marked Pepsi products this summer.

Details about the stunts to be performed by contestants on the show are still scarce and Pepsi and the WB yesterday remained mum about the project, which was first reported in Variety.

But it's already clear the winner, as part of a two-hour live finale, will have the chance to win the largest prize in TV history.

Although there's no guarantee there will be a $1 billion winner, Variety said Pepsi is talking to insurers in case someone actually takes the prize.

The host of the show has not been decided, although Regis Philbin's name is said to have been mentioned in connection with the project.

If somebody wins, the prize would be subject to taxes, whittling it down to just over $600 million.