Big day for reboots. First it was Cliffhanger, and now MGM and Warner Bros. announced they are teaming with Roland Emmerich and Dean Devlin to create a re-imagined trilogy based on the sci-fi hit Stargate, one of the biggest titles in the MGM library. Emmerich, who directed and co-wrote the original 1994 film with Devlin, is on board to direct this one, with Devlin producing. Those two are already hard at work on a new version of Independence Day at Fox.

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MGM’s Gary Barber called Emmerich and Devlin “world-class creators of the original Stargate,” and said they will “bring their reinvigorated vision of this wildly popular property to audiences of multiple generations.”

Said Emmerich and Devlin: “The Stargate universe is one that we missed terribly, and we cannot wait to get going on imagining new adventures and situations for the trilogy. This story is very close to our hearts, and getting the chance to revisit this world is in many ways like a long lost child that has found its way back home.” MGM’s Jonathan Glickman will oversee it with Warner Bros’ Greg Silverman. Warners will distribute with MGM handling some international territories. Back in its day, Stargate set the record for highest October gross and did near $200 million in global ticket sales. It went on to have a very successful run as a syndicated TV series.