More than 30 years after "Jim Henson's Labyrinth" first arrived in theaters, TriStar has announced the wait for another film based in the same universe is over. The team of Fede Alvarez and Jay Basu will write and direct the as-yet untitled sequel, and while there's no announced release date, the movie has begun casting and will begin production this fall.

"Labyrinth is one of the seminal movies from my childhood that made me fall in love with filmmaking," Alvarez told Deadline as part of the announcement. "I couldn’t be more thrilled to expand on Jim Henson's mesmerizing universe, and take a new generation of moviegoers back into the Labyrinth."

Alvarez and Basu are already working together on "The Girl in the Spider's Web," the sequel to Sony's "The Girl with the Dragon Tattoo." The duo is also slated to work together on the upcoming adaptation of EA's "Dante's Inferno" video game. The Uruguay-born Alvarez previously directed the critically-acclaimed horror-thriller "Don't Breathe." Basu co-wrote "Monsters: Dark Continent," and has a slew of other writing credits under his belt.

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Previous reports revealed that there were no plans to reboot the series, an announcement that was followed up with reports from insiders that the film would be more akin to a spin-off than a sequel.

Jim Henson directed the original "Labyrinth," which came out in 1986, his last film as a director before passing away in 1990. The movie was written by "Monty Python's" Terry Jones and executive produced by George Lucas. "Labyrinth" follows 15-year old Sara, played by Jennifer Connelly, who sets off to reach the center of a maze to save her younger brother from the Goblin King, played by David Bowie. While it didn't do particularly well commercially, "Labyrinth" has achieved cult status, spawning comics and toys.