But O'Brien told the BBC he is not involved in a planned remake of the original movie, which he co-wrote based on his stage show.
The new film reportedly is being co-financed by Sky Movies in England and MTV in the United States.
"I have no view on whether it should be remade but it doesn't have my blessing," O'Brien told the BBC. "I'm not co-producing it and I won't be involved in any way. The first I heard about it was when people sent me cuttings from U.S. papers."
O'Brien said he thinks the new film's makers said he was collaborating on the remake "to suggest I've given the project my seal of approval."
"I don't know where they'll go with it really," he said. "I've even heard that they're going to put new songs in. I wrote the book, the music and the lyrics. Where are they going to get the songs from? Who's going to do that? That's a bit strange, isn't it?"