"The NeverEnding Story" movie is going to have a remake!

According to reports Warner Bros. who had gained rights on the property had confirmed the news.

The giant studio is reportedly in talks to partner with two top-notch production company, The Kennedy/Marshall Co. and Leonardo DiCaprio's Appian Way as reported by The Hollywood Reporter previously.

The original German novel by Michael Ende shares a story about a boy named Bastian Balthazar Bux who accidentally discovered a book titled "The NeverEnding Story," which brings him to a parallel universe.

Bastian soon finds out that his life is connected with the book's storyline as he reads deeper into the novel.

It has been reported that "The NeverEnding Story" remake will be closer to the novel but will have a touch of the 21st century to it.

Since the project is still in its early stages no writer or director is attached to it yet.

The original film, directed by Wolfgang Petersen and produced by Neue Constantin that was released in 1984, earned $20 million in the box office.

It became an instant hit in home video that gained a large following and earned a great influence in children's pop culture fantasies.

"The NeverEnding Story" had a sequel on 1990 which earned poorly in the box office however, a third installment was made and released in U.S. on 1996 but immediately went to video.

Thus, doing a remake of the children's classic film is certainly a big risk for Warner Bros. and its partner production companies. However, it should be taken into consideration that the giant company had its share of successful remakes and reboots in the past and perhaps sticking to the novel could make a great difference in the success of the project, that we will find out soon.

Meanwhile here is a fan made trailer that will surely bring you back in time:

And if you're curious where are the stars of "The NeverEnding Story" now watch this footage below:

The original film was starred by Barret Oliver and Noah Hathaway. It came out long before fantasy themed movies became the pillar of Hollywood box office success. Most of its casts are not superstars but regular actors however, it managed to impress in the box office.

Do you think it's a good idea to have "The NeverEnding Story" remake? Would you watch it? Sound off in the comments section below