First announced in 2010, Paramount, Nickelodeon and Platinum Dunes are teaming for a reboot of Teenage Mutant Ninja Turtles. Now, Variety reports that Jonathan Liebesman (upcoming Wrath of the Titans, Battle: Los Angeles) is in talks to direct.

Previously, Iron Man writers Art Marcum and Matt Holloway were assigned to draft the project with Mission: Impossible - Ghost Protocol's Josh Appelbaum and Andrew Nemec taking over last year. It is still unknown whether they performed a page one rewrite or if they updated the Marcum and Holloway draft.

The franchise, which began as a black and white comic book series in 1984, rose to tremendous popularity when it became an animated series in 1987. Following the first live-action film in 1990, the series spawned two live-action sequels, a live-action television series, a second animated series and a CGI feature film.

Details are few on the new version, but it will be produced by Platinum Dunes' Michael Bay, Brad Fuller and Andrew Form.