The studio is teaming with Haim Saban to bring the classic franchise back to square one on the big screen

The Mighty Morphin’ Power Rangers are back… again.

Haim Saban and Lionsgate announced on Wednesday a deal to produce a new live action film based on the iconic kids show that originally launched in 1993.

“Lionsgate is the perfect home for elevating our Power Rangers brand to the next level,” Saban said. “They have the vision, marketing prowess and incredible track record in launching breakthrough hits from ‘The Hunger Games' to ‘Twilight' and ‘Divergent.’ In partnership with the Lionsgate team, we're confident that we will capture the world of the Power Rangers and translate it into a unique and memorable motion picture phenomenon with a legacy all its own.”

The Power Rangers have had many different iterations and casts over the last 20 years, all of which have pumped up sales on a seemingly endless list of toys, apparel, costumes, video games, DVDs, comic books, and other items.