Get ready to roar! The circle of live-action Disney remakes keeps getting bigger. The entertainment giant announced on Wednesday, September 28, that the studio is currently working on a CG-assisted reboot of 1994's classic 2-D-animated film The Lion King. (Relive the magic in the clip above!) 
 
 
 
 “The Lion King builds on Disney’s success of reimagining its classics for a contemporary audience with films like Maleficent, Cinderella and The Jungle Book,” the company said on its website. “The upcoming Beauty and the Beast, starring Emma Watson as Belle, is already one of the most anticipated movies of 2017. Like Beauty and the Beast, The Lion King will include songs from the animated film.” 
 
 Walt Disney Co./Courtesy Everett Collection 
 
 Disney has chosen filmmaker Jon Favreau to oversee the project. The former actor — who has starred in films such as Iron Man and The Avengers — most recently produced 2016’s The Jungle Book, a modern take on the 1967 movie that incorporated real-life actors and 3-D-animated animals. 
 
 
 
 Kevork Djansezian/BAFTA LA/Getty Images 
 
 The Lion King — which has also been reimagined as a six-time Tony award-winning Broadway show, which opened in 1997 — is the top grossing animated movie of all time. According to Disney's announcement, the Oscar-winning film earned over $968.8 million worldwide, including $422.8 million domestically. 
 
 
 
 Favreau, 49, took to Twitter on Wednesday morning to let his followers know that he is thrilled to be bringing Simba, Mufasa and Scar’s epic story to life. “Excited for my next project,” he wrote, accompanied by a lion and crown emojis. 
 
 
 
 Excited for my next project 🦁👑 — Jon Favreau (@Jon_Favreau) September 28, 2016 
 
 Fans also shared their excitement via social media. @Jon_Favreau developing Disney's LION KING a la THE JUNGLE BOOK? Excellent!!!” one Tweeter wrote, while another enthused: “Awesome!! Jungle Book was fantastic, so I can't wait to see Lion King!” 
 
 
 
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 ||||| We can officially confirm that The Walt Disney Studios and director Jon Favreau are putting a new reimagining of The Lion King on the fast track to production. The project follows the technologically groundbreaking smash hit The Jungle Book, directed by Favreau, which debuted in April and has earned $965.8 million worldwide. 
 
 The Lion King builds on Disney’s success of reimagining its classics for a contemporary audience with films like Maleficent, Cinderella, and The Jungle Book. The upcoming Beauty and the Beast, starring Emma Watson as Belle, is already one of the most anticipated movies of 2017. Like Beauty and the Beast, The Lion King will include songs from the animated film. Disney and Favreau are also in development on a sequel to The Jungle Book. No release date has been announced for either film. 
 
 The Lion King (1994) is one of the biggest animated films of all time with a lifetime global box office gross of $968.8 million, including $422.8 million domestically. It won Academy Awards for the original song “Can You Feel the Love Tonight” (Elton John, Tim Rice) and original score (Hans Zimmer), plus two Grammy Awards, with the soundtrack selling over 14 million copies. In 1997, the stage production The Lion King made its Broadway debut, winning six Tony Awards; 19 years later, it remains one of Broadway’s biggest hits alongside several other productions running around the world, including London, Hamburg, Tokyo, Madrid, Mexico City, Shanghai, and North America. Translated into eight different languages, its 23 global productions have been seen by more than 85 million people across every continent except Antarctica. The Lion King’s worldwide gross exceeds that of any film, Broadway show or other entertainment title in box office history.
– You can feel the love tonight if you already own a copy of 1994's Lion King on DVD, but soon you'll be able to feel the love live-action style, too, Us reports. Disney announced Wednesday it's working on a do-over of the animated film, per a press release, which means Simba, Scar, and the rest of the gang on the savannah will join other Disney characters, like Cinderella and Maleficent, who've gotten a live-action makeover. "The Lion King builds on Disney's success of reimagining its classics for a contemporary audience," the company says. Songs from the cartoon version will be incorporated into the reboot, and helming the film will be Jon Favreau (the actor/director, not the speechwriter), who tweeted a short message Wednesday morning that simply said: "Excited for my next project," accompanied by emoji of a lion and a crown. There's no release date for either The Lion King or the sequel to The Jungle Book, which Favreau is also overseeing. (Relive that time a Lion King cast broke into song on a plane.)