"Mighty Morphin Power Rangers" live action movie reboot is finally coming in theaters!

While, there has been no confirmed cast for the upcoming teenage superhero film, speculations about its villains sparked.

Rumor has it that Tom Hardy, Michael Fassbender and Meryl Streep would be included in the lineup for Lionsgate's project.

According to Kdramastars, award winning actress Meryl Streep could take on the role of the evil alien Rita Repulsa, while "X-Men: Days of Future Past" star Michael Fassbender and "The Dark Knight Rises" star Tom Hardy could be Lord Zedd and General Goldar respectively.

A-list actors like Taylor Lautner and Liam Hemsworth are also being linked to the film with the inclusion of "Kick Ass" star Chloe Moretz, Liam Neeson and Jack Gleeson in the team.

According to MTV News, Chloe Moretz has accepted the role offered to her by the studio as Pink Ranger, adding that she's excited to be Kimberly Hart.

"Thor" star Tom Hiddleston was once linked to the project as well, but rumors were soon refuted by the reps of the actor.

However, things may be in major setback for Lionsgate following the announcement that Roberto Orci, who will supposedly executive produce the "Mighty Morphin Power Rangers" movie reboot, dropped out from the project.

According to Deadline, the conflict on schedule with the upcoming "Star Trek 3," which will be directed and written by Orci caused him to leave the project.

Lionsgate CEO Jon Feltheimer and Power Rangers producer Haim Saban made the announcement on May.

"Lionsgate is the perfect home for elevating our Power Rangers brand to the next level," Saban revealed. "They have the vision, marketing prowess and incredible track record in launching breakthrough hits from 'The Hunger Games' to 'Twilight' and 'Divergent.'"

While Feltheimer added, "The Power Rangers stories and characters have been embraced by generations of audiences for more than 20 years, and today they are more powerful than ever."

Lionsgate revealed its plans for the 1990's children's classic:

"With an extensive and extremely devoted worldwide fan base as well as a deep and detailed mythology, the Power Rangers are primed for the big screen."

The film studio added that movie will re-visualize the Mighty Morphin Power Rangers "a group of high school kids who are infused with unique and cool super powers but must harness and use those powers as a team if they have any hope of saving the world."

While, there has been no official cast being named for the planned project it seems that the 90s' cult hero show is actively gearing up as a screenwriter is reportedly on board already.

According to website SchmoesKnow, an insider close to Lionsgate bosses have asked "Chronicle" writer Max Landis to pen the script. It has also been reported that Landis has already submitted a draft to producers Jim Miller, Alison Sheamur, and original Power Rangers creator Haim Saban.

The website also added that Landis will use the "Chronicle" as his basis for the planned Mighty Morphin Power Rangers movie 2014 if the producers will agree.

However, the recent development has disappointed the fans, claiming that Landis is an "unlikely choice" citing that he is a critic to blockbuster films and geek cinema, making it an "unwise decision."

How about you Kpopstaz readers, do you have your own list on who should be included in the cast for the upcoming "Mighty Morphin Power Rangers" movie reboot? Sound off in the comments section below.