The NeverEnding Story may get the reboot treatment as studios bid for rights. The English-language German film directed by Wolfgang Petersen follows Bastian, a bullied young boy who finds a mysterious book which transports him to a magical place called Fantasia. Lost within the pages, Bastian must stop a dark force called The Nothing from conquering the mystical land. The NeverEnding Story was released in 1984 to general acclaim, earning $100 million worldwide. Based on a 1979 novel by late author Michael Ende of the same name, The NeverEnding Story has risen to cult status and remains relevant in pop culture today.

Despite a mixed critical response at the time of its release which often focused on the film's perceived lack of humor despite being a children's movie, the franchise went on to spawn two sequels in the '90s: The NeverEnding Story II: The Next Chapter and The NeverEnding Story III: Escape From Fantasia. However, the sequels couldn't match the success or acclaim of the first and the franchise was put to rest. Though there have been a few attempts over the decades to reboot the classic fantasy story, nothing has come of it due to rights issues. Now, it's possible that the time is ripe for The NeverEnding Story to make a comeback.

Related: The NeverEnding Story: Cast & Character Guide

Deadline reports that multiple streamers and studios are making multi-million dollar offers to buy the property originally created by Ende. According to reports, the author's estate is open to negotiations, which will hopefully allow the complex saga of rights to the fantasy property to go over smoothly. Studios in the U.S. and in Europe have put offers on the table, but talks are still in the early stages and not much else is known at this time.

Bastian and Flakor facing each other in The Neverending Story

The NeverEnding Story has enjoyed an impressive staying power in pop culture due to the '80s nostalgia it inspires and its status as a cult classic. Its title song by Limahl even enjoyed a top hits renaissance when it was performed by Dustin and Suzie in Stranger Things season 3. Until now, rumors of a remake seemed unsubstantiated and unlikely due to the complicated history of the property's rights. However, the recent news of a bidding war by studios and streamers means that a NeverEnding Story revival may be on the table. After the recent success of major fantasy franchises including Lord of the Rings and Game of Thrones, it makes sense that studios are looking for the next story to captivate audiences.

If The NeverEnding Story were to be rebooted, it remains to be seen whether the new story would focus on re-imagining the original with modern technology or creating a more accurate and nuanced adaptation of the book. Not a fan of the movie, Ende actually sued the production company of the original film (which only covered the first half of the book), citing it as a kitsch melodrama. Though he lost the suit, it would be apt to consider the author's original intentions with the work if a remake were to gain traction. Balancing the contents of the novel with the nostalgia of film fans will be a challenge for any filmmaker tasked with re-imagining The NeverEnding Story, but it's an endeavor that will hopefully pay off. Until more is announced on the subject of a NeverEnding Story reboot, the original film remains a dark, enchanting, and joyful escape into the classic fantasy story.

Source: Deadline