Jim Henson's final film, Labyrinth, features David Bowie in one of his most famous acting roles as Jareth the Goblin King and is lauded as a landmark '80s cult classic. Mere days following the rock icon's death, the Jim Henson Company and Sony's TriStar Pictures have struck a deal to return to the goblin kingdom in a reboot penned by Guardians of the Galaxy co-writer, Nicole Perlman.

Details remain unclear whether the reboot of the 1986 musical fantasy is an actual sequel or more of a remake, Pitchfork reports. As Entertainment Weekly points out, rumors regarding a Labyrinth 2 have generated buzz only to be proven false in the past.

Alongside a mostly Muppet cast, the original Labyrinth starred a 15-year-old Jennifer Connelly who wishes away her baby brother only to immediately regret that decision when it's Jareth the Goblin King who snatches him. The film follows Connelly's character as she navigates a magical maze to save her brother before he is turned into a goblin.

In addition to playing the especially glamorous antagonist goblin, Bowie recorded five new songs for the film's soundtrack: "Underground," "Magic Dance," "Chilly Down," "As The World Falls Down" and "Within You." Watch a clip of Bowie as Jareth performing "Magic Dance" below:

As MTV points out, while fans seem to have pretty mixed opinions about the idea of the reboot on social media, most are preoccupied with the question of who should (or could) be cast in a role to fill Bowie's magical dancing shoes (if Jareth lives on, that is).

The original Labyrinth was executive produced by George Lucas. Monty Python's Terry Jones wrote the screenplay. Although it's now revered as a must-see, the film bombed in the box offices when it was released in 1986.

The original film's budget was $25 million, but it grossed less than $13 million; Variety reports that the film became commercially successful in home video and DVD releases.