MGM reportedly is planning a $25 million remake of "Fame," the 1980 movie musical about a New York high school for aspiring performers.

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The Hollywood Reporter said Kristy Flores, Paul Iacono, Paul McGill, Naturi Naughton, Kay Panabaker, Kherington Payne, Collins Pennie, Walter Perez and Anna Maria Perez de Tagle have signed on for parts in the new picture.

"Terminator: The Sarah Connor Chronicles" star Thomas Dekker is in talks to take a lead role and Debbie Allen, who played dance teacher Lydia in the original movie and subsequent TV series, could return for a cameo as a different character, the entertainment industry trade newspaper said.

The new movie is expected to start shooting late next month and is slated for a Sept. 25, 2009 release, The Hollywood Reporter said.

"In many ways, the idea of pursuing a career in dance or music or acting is much more palpable now," MGM chairman Mary Parent said.

"Anyone with a page on a social networking site is instantly 'famous,' and anyone with a digital camera is a potential filmmaker. The negotiation between fame and real talent is much more immediate and something with which audiences are familiar, and there's a universal relatability to experiencing the trials and tribulations associated with pursuing one's dream, regardless of the arena."