The original film starred Nicolas Cage and Deborah Foreman as star-crossed lovers -- she's a good girl from the San Fernando Valley and he's an edgy dude from Hollywood and featured numerous peppy 1980s tunes like "I Melt with You," "The Fanatic" and "Eaten by the Monster of Love."
Variety.com said Sean Bailey is producing the remake through his Idealogy Inc. production company. Bailey recently produced the film, "Gone Baby Gone," and the reality TV series, "Project Greenlight."
The new "Valley Girl" movie is expected to include a roster of classic 1980s songs, the entertainment industry trade paper said.
Notable deaths of 2014 [PHOTOS]