The original 1977 film combined an animated dragon character with a live-action cast including Sean Marshall, Mickey Rooney, Red Buttons and Shelley Winters.
The story follows an orphan boy who arrives in a seaside town with his magical dragon, while his abusive adoptive parents are hot on his trail.
Fegley plays Pete while Laurence plays an as yet unspecified role.
"Ain't Them Bodies Saints" director David Lowery and Toby Halbrooks were hired last year to write the adapted script, from which Lowery will direct. The update reinvents the core of the original concept but won't feature songs. While the dragon in the original was traditionally animated, in the remake he will be a CG animated creation
Jim Whitaker will produce the update
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