Keith Thomas will direct the film, which will be produced by Jason Blum and Akiva Goldsman, who previously teamed on the Paranormal Activity franchise. Martha De Laurentiis, who was an associate producer on the 1984 feature, will executive produce.
Efron, repped by CAA, Alchemy, Viewpoint and Felker Toczek, was most recently seen in docuseries Down to Earth on Netflix.