Court TV wants to jump into Deep Throat (search).

The legal channel is developing a film based on the events that rocked the White House more than three decades ago and concluded earlier this week when the best-kept anonymous source in journalism finally revealed himself as Mark Felt (search), the former second in command at the FBI.

"I want to focus on why this story is relevant for today as opposed to why it's a historical piece," says Court TV (search) chief Henry Schleiff, who thinks the project could either be a documentary or a drama.

"I'm kind of leaning more towards a 'Reds' approach," he says, referring to the 1981 Warren Beatty movie. "It could be kind of a mix of dramatic and some of the actual participants."

There is no target date to get the film on the air. "I don't even have an outline for the project yet," he says.

The script could be pieced together from news stories, Schleiff says. But Court TV did not rule out buying the story rights from Felt or Vanity Fair, which published the original story.

Network officials hope to approach the film so that it would be as much about the 30-year mystery of Deep Throat's identity as about Felt's dealings with Washington Post reporter Bob Woodward (search) during the height of the Watergate scandal.

"The story here is not only an interesting period piece," says Schleiff.

"I think it has resonance for today, because starting with Watergate, we became cynical. That was the first time we said we need to ask questions of our highest elected officials, including the executive branch."

Doing the film goes to the heart of Court TV's mission, he says, because the channel deals in legal matters, and the Watergate scandal revealed government officials abusing their power and operating in secret.

The Court TV film, he says, will have a different take on the events because the story itself was so well told in the movie, "All the President's Men," says Schleiff.

Earlier this week, Felt, now 91, revealed that he was the storied anonymous source Deep Throat, who funneled important information to the Washinignton Post that led to the downfall of Richard Nixon and the imprisonment of nearly a dozen former White House officials.

"For me, at least, the Loch Ness monster proved to really be a rubber duck, Bigfoot turned out to be some guy running around in the woods with a plastic mold," says Schleiff.

"This guy, Deep Throat, really existed and really helped to change history, and now we know who he is — it's one of the most interesting mysteries, and it was real."