MGM, like, is back in the 'Valley'

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"Like, gag me with a dance number …" Yes, MGM, as part of its aggressive reharvesting of its back catalog, is developing a musical feature version of the 1983 comedy "Valley Girl." And it's, like, totally raiding the old '80s cassettes for the songbook.

Idealogy's Sean Bailey and Matt Smith delivered the novel twist on the cult comedy. Bailey will produce, Smith will executive produce. MGM vp production Becky Sloviter will oversee the project for the studio.

Martha Coolidge directed the original gnarly comedy about the mixed-clique relationship between a punk (Nicolas Cage) and a Valley girl (Deborah Foreman). It was written and produced by Wayne Crawford and Andrew Lane and showcased a distinctive New Wave soundtrack that included Modern English and the Psychedelic Furs.

The update will graft the Romeo and Juliet-style narrative of the original into a musical colored by reimagined classic '80s tunes.

While MGM has been developing a remake of "Fame," this marks the first foray into musical terrain for new worldwide motion picture group chairman Mary Parent.

Bailey most recently produced Ben Affleck's "Gone Baby Gone," for Miramax. Idealogy is repped by Endeavor. (partialdiff)
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