They were one of the most-successful television and toy franchises of the 1990s - and the Mighty Morphin Power Rangers are set to return in a movie reboot.

Yes, the crash helmet-clad superheroes are set to follow in the footsteps of the Teenage Mutant Ninja Turtles with a new live-action film in a bid to capture a 21st century audience.

And the project will be produced by Lionsgate, the hugely successful studio behind the Twilight and The Hunger Games franchises.

A statement from Saban, which owns the property, said: "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.

"In partnership with the Lionsgate team, we're confident that we will capture the world of the Power Rangers and translate it into a unique and memorable motion picture phenomenon with a legacy all its own."

The reboot will reportedly see the Power Rangers return as a group of school children who discover they have unusual powers - and then learn to harness them for good.