Summit Entertainment is plotting a remake of the 1986 cult favorite "Highlander."

According to The Hollywood Reporter, the company has acquired remake rights from Davis/Panzer Prods. and hired "Iron Man" co-writers Art Marcum and Matt Holloway to write the film.

The 1986 original was directed by Russell Mulcahy and featured the tagline "There can be only one." It was followed, naturally, by four sequels and a trio of TV efforts.

The original film starred Christopher Lambert as Connor MacLeod, an immortal Scottish swordsman battling a time-traveling barbarian in the present day. The trade paper says that Summit plans to keep the basic plot of the original, which also starred Sean Connery and Clancy Brown, while expanding the backstory.

"I would hate to think that people viewed 'Highlander' as a sword fighting movie because it's much more than that," Davis tells the HR. "The issues of an immortal falling in love with a woman and knowing she's going to grow old and die in your arms, those are very romantic issues to deal with."

Don't worry. There will still be plenty of beheading, we suspect.