Exciting news for fans of the iconic franchise: Power Rangers is gearing up for a thrilling live-action series on Disney+. According to The Wrap, the talented duo behind the Percy Jackson and the Olympians series, Jonathan E. Steinberg and Dan Shotz, are in discussions to take on the roles of writers, showrunners, and producers for this new venture, in collaboration with Disney+ and 20th Century TV.

Hasbro, the current owner of the Power Rangers brand, is aiming to breathe new life into the series, hoping to captivate a fresh audience while keeping the existing fanbase engaged. This move comes as part of Hasbro's broader strategy to expand the franchise's reach across various platforms and markets.

The original '90s TV show, The Mighty Morphin' Power Rangers, became a cultural phenomenon, captivating young audiences with its teenage superheroes and their impressive mechs that could combine into an even larger, more formidable machine.

In 2018, Hasbro acquired the Power Rangers franchise from Saban Properties in a deal valued at $522 million. At the time of the acquisition, Hasbro's chairman and CEO, Brian Goldner, expressed enthusiasm about the brand's potential, stating, "We see significant opportunity for Power Rangers across our entire Brand Blueprint, including toys and games, consumer products, digital gaming and entertainment, as well as geographically throughout our global retail footprint."

This acquisition followed the unsuccessful 2017 movie reboot, which attempted a darker, grittier take on the Power Rangers universe with the intention of launching a series of sequels. However, due to disappointing box office results, those plans were abandoned, leading Saban to sell the rights to Hasbro shortly thereafter.

Hasbro's ambitious plans don't stop with Power Rangers. The company is also developing other high-profile projects, including a live-action Dungeons & Dragons series titled The Forgotten Realms at Netflix, an animated Magic: The Gathering series also in development at Netflix, and a cinematic universe based on Magic: The Gathering.