The Hollywood Reporter broke the news, with the film actually to be titled The Rocketeers. Max Winkler and Matt Spicer have already been brought in to work on the screenplay for this redo-cum-relaunch.

This new movie is being described, as per THR, as:

The new take keeps the story in a period setting and offers a fresh view on the characters. Set six years after the original Rocketeer and after Secord has vanished while fighting the Nazis, an unlikely new hero emerges: a young African-American female pilot, who takes up the mantle of Rocketeer in an attempt to stop an ambitious and corrupt rocket scientist from stealing jetpack technology in what could prove to be a turning point in the Cold War.

The Rocketeer character was created back in 1982 by Dave Stevens, with Rocketeer published by Pacific Comics. The story follows 1938 stunt pilot Cliff Secord as he comes into possession of a jetpack that allows him to head to the skies as he fights the good fight and battles the bad guys. Joe Johnston famously brought the character to live in 1991 with The Rocketeer, starring Billy Campbell, Jennifer Connolly, Alan Arkin and Timothy Dalton.

As ever, expect more on this relaunch as it develops.