"It's Morphin' Time!" Get ready '90s kids because a major blast-from-the-past is coming your way. Lionsgate has just confirmed its plans to create a film adaptation of the "Mighty Morphin Power Rangers" TV series.

According to The Verge, "Lionsgate has acquired the rights to make a new film from Saban, but it's very early in the process. There is no script, director, or cast yet." 

"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," quoted The Guardian of Lionsgate CEO Jon Feltheimer.

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

With the track record and production style of Lionsgate, it's possible that silver screen version will carry a "darker, grittier" vibe that has been a consistent recipe for success for the studio, notes MTV.

The "Power Rangers" franchise was conceived by Haim Saban who created and produced the original "Mighty Morphin Power Rangers" hit series that first aired in 1993. The show was about a group of high school students who had the ability to "morph" into superheroes that would team together and save the world from gigantic robot monsters.

This new film in the works will not be the first feature film based on the series, The Verge recalls that two movies have already been done, the first being the "Mighty Morphin Power Rangers" in 1995 and "Turbo: A Power Rangers Movie" two years later.

The franchise has regained some of its former glory after being re-launched as a show.

For more information, visit www.powerrangers.com.