Reports suggest Tony-nominated playwright Matthew Lopez is creating a new version of the beloved film, which revolves around the relationship between a pop superstar and her minder, a former United States Secret Service agent.
Variety sources claim Lawrence Kasdan, who wrote and produced the original, will be back to produce the revamp, which has been in the development stage for a decade with Rihanna linked to the project at one point and fans suggesting Ryan Reynolds or Chris Hemsworth would be perfect for Costner's bodyguard role.
In separate news, Anthony Mackie is jumping from Captain America to John Doe for a live-action TV adaptation of hit videogame "Twisted Metal".
Mackie will play Doe in the series for Sony Pictures Television and PlayStation Productions.
"We're thrilled to have Anthony Mackie on board," PlayStation Productions boss Asad Qizilbash tells Deadline. "His ability to blend comedy, action and drama is perfect for the Twisted world we're creating."
"Twisted Metal" is based on "Deadpool" writers' Rhett Reese and Paul Wernick's story about a heroic milkman's efforts to deliver a mysterious package across a post-apocalyptic wasteland while being chased by a band of evil marauders and a deranged clown.
"Cobra Kai" writer Michael Jonathan Smith will write and executive produce the series, alongside Mackie, Reese and Wernick and Will Arnett and Marc Forman, through their production company Electric Avenue.