Disney is rebootingHoney, I Shrunk the Kids, with the help of Josh Gad. Virtually every studio in Hollywood right now is trying to cash in on nostalgia while, at the same time, finding something that can potentially bring with it a franchise. Disney is perhaps better at this than anyone else in the business. As such, they’re about to try their hands at bringing back one of the classic franchises that helped to give them a leg-up in the live-action movie game in the first place.

According to a new report, Josh Gad has signed on to star in a “legacy sequel” toHoney, I shrunk the Kids, simply titledShrunk. The idea is for Gad to play Nick Szalinski, the son of Rick Moranis' character, Wayne Szalinski, approximately 30 years after the original 1989 movie takes place. So this will fall square into the hybrid reboot/sequel type of movie that will be new and fresh for audiences who didn’t grow up with the original, but won’t abandon what came before, as to not alienate those who have a fondness for the original movies.

The original movie centers on inventor Wayne Szalinski. His kids head upstairs to his lab to retrieve baseball when his experimental shrink ray shrinks them down to 1/4 inch tall. Hijinks ensue. It’s said that the sequel will similarly seeJosh Gadshrink his kids. At the present time, there is no filmmaker attached, but Disney is said to be looking for someone who has a fondness for the original to tackle this new big screen version of the classic franchise. No specific names have been revealed.

Honey, I Shrunk the Kidsserved as Joe Johnston’s directorial debut. It was a smash hit, grossing $222 million at the global box office, a record for a Disney live-action movie at the time. The movie spawned two sequels, the theatrically released Honey, I Blew Up the Kid in 1992 and 1997’s home video release Honey, We Shrunk Ourselves. There was also a TV show that ran from 1997 to 2000. The property has remained dormant in the years since. Though, it’s seemed like a property ripe with potential, especially sinceDisneyhas already been churning out live-action remakes of their animated classics with much success.