'The Lion King' Is Coming To Life

Remember the classic 1994 hit film "The Lion King"? Of course you do.

The film was one of the best performing animated movies ever told with a lifetime global box office gross of $968.8 million. The film's success prompted Walt Disney Co DIS to create a Broadway play with productions running across the world.

Disney has some exciting news.

Related Link: For Disney, Declining TV Ratings And Stiff Competition At The Box Office Lay Ahead

According to a Disney press release, the film studio will team up with Jon Favreau to recreate "Lion King." following the studio's recent success in reimagining classic stories such as "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," the company said in its press release. "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."

Disney's stock has been one of the worst Dow performers in 2016, down 13 percent year-to-date.