Lionsgate, the studio behind The Hunger Games and The Twilight Saga: Breaking Dawn – Part 2, just announced plans to develop a live action feature film based on the popular superhero TV series Mighty Morphin Power Rangers.

Power Rangers, which follows five high school students who morph into spandex-clad "rangers" and pilot giant mechanical creatures to fight evil, was imported from Japan by television mogul Haim Saban in 1993. It was an instant hit despite the high level of violence and low production quality.

Disney acquired the rights to Power Rangers in 2001, but Saban Brands bought it back in 2010 and relaunched the show. Lionsgate has acquired the rights to make a new film from Saban, but it's very early in the process. There is no script, director, or cast yet.

There have been two Power Rangers feature films in the US: Mighty Morphin Power Rangers in 1995 and Turbo: A Power Rangers Movie in 1997. Both did moderately well at the box office and received mixed critical reviews.

The franchise has become popular again in recent years among its young audience members, possibly due to its transfer back to Saban. For whatever reason, kids are watching the shows, buying the action figures, and demanding Power Rangers-themed birthday parties. No doubt they'll want to see the movie as well, regardless of who ends up directing it.