Lionsgate, Saban Brands Partner on 'Power Rangers' Movie Reboot

The new live-action film will be based on the 1990s TV series about a group of high school kids with superpowers.

TORONTO – Lionsgate is pacting with Saban Brands to do a movie reboot of the iconic Power Rangers TV property.

The mini-studio will produce a live-action film based on the 1990s TV series Mighty Morphin Power Rangers.

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The new movie franchise will bring back a group of high school kids with superpowers they must harness and use as a team to save the world.

"Lionsgate is the perfect home for elevating our Power Rangers brand to the next level,” said Saban Brands head Haim Saban said in a statement on Wednesday.

"We’re thrilled to be partnering with Haim Saban and his team to maximize the potential of this immensely successful and universally recognized franchise,” said Lionsgate CEO Jon Feltheimer in his own statement.

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Power Rangers remains one of the top-rated and longest running boys live-action series.

Saban Brands was launched in 2010 as an affiliate of Saban Capital Group.