Mighty Morphin Power Rangers 2014 movie is a go! Lionsgate has announced the planned reboot with original creator Haim Saban to produce the film.

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."

Following the announcement of a new live action reboot of Mighty Morphin Power Rangers movie by Lionsgate, speculations about who would be included in the cast soon swarm the internet.

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

Even "Thor" star Tom Hiddleston is being speculated to appear in Mighty Morphin Power Rangers 2014 movie. Just like Lautner and Hemsworth, Hiddleston is being rumored for the red ranger role.

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 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."

What about you Kpopstarz readers? Whom would you prefer to play the red ranger role for the planned Mighty Morphin Power Rangers 2014 movie?