Exciting news for fans of the iconic franchise: Power Rangers is gearing up for a thrilling live-action revival on Disney+. According to The Wrap, the talented duo behind the acclaimed Percy Jackson and the Olympians series, Jonathan E. Steinberg and Dan Shotz, are in negotiations to write, showrun, and produce this much-anticipated series in collaboration with Disney+ and 20th Century TV.

Hasbro, the current owner of the Power Rangers brand, aims to breathe new life into the series, ensuring it captivates a fresh audience while retaining the loyalty of long-time fans. This move comes as part of Hasbro's broader strategy to leverage the "tremendous upside potential" of the Power Rangers franchise, as highlighted by Brian Goldner, Hasbro's chairman and CEO, following their acquisition of the brand from Saban Properties in a $522 million deal in 2018.

The Mighty Morphin’ Power Rangers, which debuted in the '90s, became a cultural phenomenon, captivating young audiences with its teenage superheroes and their impressive mechs. These mechs, capable of combining into a colossal fighting machine, added an extra layer of excitement to the series, making it a staple of '90s television.

Hasbro's vision for Power Rangers extends beyond just television, with plans to expand into toys, games, consumer products, digital gaming, and entertainment across their global retail network. This ambitious approach follows the less successful 2017 movie reboot, which attempted a darker, grittier take on the franchise but failed to resonate with audiences, leading to the cancellation of planned sequels and the subsequent sale of the franchise to Hasbro.

In addition to the Power Rangers project, Hasbro is also venturing into other exciting territories. They are developing a live-action Dungeons & Dragons series titled The Forgotten Realms for Netflix, an animated Magic: The Gathering series also in the works at Netflix, and a cinematic universe for Magic: The Gathering, showcasing Hasbro's commitment to expanding its beloved brands across various media platforms.