Disney greenlights a remake of 'The Lion King'

It's the circle of life, folks. It's time for another Disney live-action remake.

The Walt Disney Studios has once again partnered with director Jon Favreau; this time to remake "The Lion King" for a new age.

"'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 wrote in a statement Wednesday. "Like 'Beauty and the Beast,' 'The Lion King' will include songs from the animated film."

Although unconfirmed, it is suggested that the new iteration of "The Lion King" will adopt the technologically groundbreaking computer-generated imagery seen in Favreau's "The Jungle Book," which garnered $965.8 million globally.

Previously, Disney adapted the film, which is based on William Shakespeare's "Hamlet," as a Broadway musical and later spun the story into an animated children's television show called "The Lion Guard."

"The Lion King" musical won six Tony Awards in 1997 and its worldwide gross exceeds that of any film, show or other entertainment title in box office history, according to Disney.

Social media users were quick to comment about the new film announcement.