Screenwriters Karen McCullah Lutz and Kirsten "Kiwi" Smith (Legally Blonde) have been picked to give the 1982 film a modern spin.
Marty Bowen and Wyck Godfrey (the Twilight franchise) are going to produce via their Temple Hill Production company.
The original film starred Burt Reynolds and Dolly Parton "as a town sheriff and madame who team up to stop a crusading TV personality from shutting down the local whorehouse, the famed Chicken Ranch, which was featured in a Playboy magazine profile."
The first film was based on the 1978 Broadway play of the same name.
This new version will feature musical numbers, though the studio is not saying much about whether the new version will incorporate the previous film's songs.
The book for the Broadway play was penned by Larry L. King, who also wrote the Playboy profile, and Peter Masterson. Carol Hall penned the music and lyrics.