By Staff (media@latinospost.com) | First Posted: May 23, 2015 06:19 AM EDT

Lionsgate has officially announced that it will delay the release date of the much awaited "Power Rangers" movie reboot.

According to the May 22 report of The Wrap, the release of the upcoming film has been moved from July 22, 2016 to January 13, 2017.

Lionsgate CEO Jon Feltheimer and other executives have expressed their confidence for the upcoming film. It pointed out that a great movie will sell no matter which release date it falls into. They cited the case of "American Sniper."

"We're picking a date where we think we can win," the report quoted Feltheimer saying.

Lionsgate Motion Pictures Group Co-Chairman Rob Friedman also echoed the same confidence, gushing that they are already looking forward to the seeing director Dean Israelite's vision and soon the movie's outcome.

"We're very excited and with Dean's vision; we felt very comfortable looking for opportunistic dating...We really believe that great movies deliver no matter what date they're on," Friedman was quoted in the report saying.

Cinema Blend says Lionsgate's move might actually work. This will separate the film from other movies. Hence, all attention is on it. Should this be a success, other films might see this as a hint to grab January release dates too.

Not much is known about the upcoming movie. Master Herald earlier reported that Lionsgate and Saban Brands have initially eyed Roberto Orci to be the director of the movie but he quit in November as he reportedly accepted the directorial job for "Star Trek 3." Israelite who is known for his work "Project Almanac" and for being a "huge fan" of the franchise is said to be the director of the movie.

Screen Rant said the movie is produced by Brian Casentini, Allison Shearmur, and Haim Saban and the script is being written by Ashley Miller and Zack Stentz, who both earlier worked on "Thor" and "X-Men: First Class."

Based on the movie synopsis provided by Screen Rant, the upcoming movie is "a modern reinvention of the Mighty Morphin Power Rangers, a group of ordinary high school kids who find themselves infused with extraterrestrial powers and must harness those powers as a team to save the world."

No cast list has been revealed to date but Movie Pilot earlier listed some possible actors for the film. The list includes Morgan Freeman as Zordon; Lena Headey as Rita Repulsa; Emma Watson as Kimberly Hart; Freddie Highmore as Billy Cranston; Malese Jow as Trini Kwan; Ray Fischer as Zack Taylor; Jack O'Connell as Jason Lee Scott; and Luke Pasqualino as Tommy Oliver.