The upcoming 'Mighty Morphin Power Rangers' movie is officially confirmed to be released on July 22, 2016. The franchise began in the '90s as a television series on Fox Kids, was then made into a movie in 1995, and will now hit the big screen once more in 2016.

According to reports, Lionsgate and producer Haim Saban have already hashed out a deal to reboot the live-action franchise. The script will stem from screenwriters Ashley Miller and Zack Stentz, who recently wrote the blockbuster film scripts for 'Thor' and 'X-men'.

Lionsgate has been a part of many recent box office hits like 'The Hunger Games', 'Divergent', and 'Ender's Game', which gives reason to believe that the upcoming 'Mighty Morphin Power Rangers' film will be just as popular. The producers for the film are also known for their success in the business, Haim Saban, Brian Casentini, Allison Shearmur with Roberto Orci worked on films like 'Transformers', 'Star Trek', and 'Amazing Spider-Man 2'.

However, the movie doesn't have a director lined up yet, but many speculate that a big time show runner will step up and join the other big names already on board.

While it's still unknown when production for the 'Mighty Morphin Power Rangers' will actually begin, fan hope that it will be sometime soon. One issue about the release date is that many other predicted blockbusters will launch around the same time. Depending on when production gets underway, the film could potentially by bumped up or pushed back in terms of its debut.

It is still unknown as to when the movie will start the production but it is hoped for that it will be soon so the film can be flexible on moving the release date earlier or later than the already announced date since several other big-titled movies are scheduled to premiere around summer 2016 as well.

Some of the other big films that are set to appear in cinemas in the Summer of 2016 include, 'King Arthur', 'Independence Day 2', 'Bourne 5' and the 'Planet of Apes 3'.

The official description for 'Mighty Morphin Power Rangers' reads, "a modern reinvention of the Mighty Morphin Power Rangers, a group of ordinary high school kids who find themselves infused with extraterrestrial powers and must harness those powers as a team to save the world."