We reported on this a couple of months back, but now The Hollywood Reporter have confirmed that a remake of the popular 70's horror movie 'Phantasm', is on its way to the silver screen. Bubba Ho-Tep helmer and original 'Phantasm' director Don Coscarelli will produce the new movie.

The 1979 original, told the story of a young boy named Mike and his friends, who face off against a mysterious grave robber known as the Tall Man and his killer flying spheres.

The film could spawn a couple of sequels (like the original did), and will be released through New Line.