Joe Johnston in talks for 'Honey, I Shrunk the Kids' reboot with Josh Gad as lead

Filmmaker Joe Johnston, the creator of beloved franchise "Honey, I Shrunk the Kids", might be coming back for its reboot.

The 69-year-old, who made his feature directorial debut with the 1989 original, is in negotiations to direct the reboot which would feature Josh Gad in the lead.

The original film was about an inventor who accidentally shrinks his and his next door neighbour's children to a quarter of an inch with his electromagnetic shrinking machine and accidentally throws them out with the trash, where they must venture into their backyard to return home while fending off insects and negotiating hazards.

According to Variety, Gad pitched the idea for the reboot to Disney earlier this year. The studio then met with other filmmakers for the project but ultimately decided to approach Johnston.

Todd Rosenberg will pen the script of the reboot, which would be produced by David Hoberman and Todd Lieberman are producing through their Mandeville Films and Television banner.

"Honey, I Shrunk the Kids", featuring Wayne Szalinski in the lead, was a big blockbuster for Disney back when it released.

The film spawned to sequels -- "Honey, I Blew Up the Kid" (1992) and "Honey, We Shrunk Ourselves" (1997).