According to reports on Dark Horizons, Netflix has pulled out of the plan to reboot the Power Rangers with a new TV series. The project, which has been in development for over two years now, has ended according to Jinsakuu, with Hasbro now exploring a "new creative direction for the series with a new partner".
It's a shame as the creative roster was quite impressive, with Jenny Klein of Supernatural fame mooted as the showrunner working with the Power Rangers franchise chief Jonathan Entwistle (The End of the F--king World).
Notable as the series that brough live action Japanese tokusatsu to the Western market, Power Rangers has struggled to find a footing in the modern era and return to the 1993 popularity that launched the franchise into a major money-making superpower. The gritty 2017 movie, clearly inspired by Chronicle in terms of tone, failed to warrant a sequel, largely speculated to be because it failed to capture the spirit of the original and connect with fans.
Whether Hasbro can find another studio to revive the franchise remains to be seen.
