Hollywood's appetite for the big 90s kids shows appears to know no bounds. Lionsgate has just announced it is teaming up with Saban Brands to revive the Mighty Morphin Power Rangers for one of several live action feature films.

Teenage Mutant Hero TurtlesTeenage Mutant Ninja Turtles Is Another 90s Show That Is Being Revived For The Big Screen

The hugely popular series was launched by Haim Saban more than 20 years ago, mixing footage with a group of young actors with action taken from the Japanese television show Kyoryu Sentai Zyuranger. 

According to Deadline.com, the new movie will cat a new group of high school kids who will mix their studies and social lives with a mission to save the world. The original show was pretty formulaic but the Fox Kids afternoon slot worked perfectly and parents shelled out millions of dollars on the merchandise and live action shows.

More: a closer look at the Teenage Mutant Ninja Turtles trailer

Popularity for Power Rangers was waning by the time of the first feature film and that grossed $64 million on a budget of just $15 million. The next movie could be huge for Lionsate. As Scott Mendelson of Forbes writes this week, "I've been saying for years that eventually some studio would get the film rights to these characters, spend $100 million-$150 million on the project, craft a somewhat more serious and grounded variation of the property, presumably with an origin story told in the Rise of the Guardians/X-Men mold, along with truly bombastic action sequences, and then gross $500 million worldwide."

The original series has seen a rise in popularity via Netflix in recent years. 

A new Teenage Mutant Ninja Turtles movie will be looking to take the late summer box-office apart when it hits on August 8, 2014. It stars Megan Fox as April O'Neil.

Watch Megan Fox trampolining on the set of Teenage Mutant Ninja Turtles: