According to Variety, the new Power Rangers movie will premiere on July 22, 2016. The movie will retell the origin of the titular Power Rangers, a group of high school kids who gain superpowers from an extraterrestrial source and use those powers to save the world from evil forces.

The movie will be made by Lionsgate, which has also produced the 'Divergent' and 'The Hunger Games' movies. On that note, Lionsgate hopes to create a new movie franchise by teaming up with Saban, the creators of the original TV series.

The characters first gained prominence in 1993, when they starred in a Fox Kids TV show called 'Mighty Morphin Power Rangers', which became wildly popular and led to a movie, 'Mighty Morphin Power Rangers: the Movie' in 1995.

The Rangers were depicted as martial artists who also piloted giant robots that took the form of prehistoric animals and could combine into one large, humanoid robot.

The original version of the show ran until 1996, when the franchise was simply renamed 'Power Rangers' with different subtitles every season. Later seasons had completely different casts and vehicles each year.

Beyond that, a second movie, 'Turbo: A Power Rangers Movie', came out in 1997 and was treated as a bridge between the "Zeo" and "Turbo" series.

In regards to the upcoming film's cast, MTV News announced that Chloe Grace Moretz will play Kimberly Hart the Pink Ranger, while Comic Book Movie posted that Liam Neeson will play Zordon, a benevolent alien who acts as a mentor to the Rangers.

Other actors rumored to be in the movie are Jamie Chung, Liam Hemsworth, Taylor Lautner, Jack Gleeson, Michael B. Jordan, and Roshon Feegan. There is also speculation that Meryl Streep may sign on to play the evil Rita Repulsa. However, as of yet, there is no confirmation about the final cast of the movie.