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Why not remake it? The movie was simply an adaptation of the famous myth of Perseus. The basic stories from ancient myths have and will continue to be re-presented and re-adapted as audiences age and change. Plus, anything that educates and informs people who may not have known otherwise gets a thumbs up from me.
Though I would like to see someone try honouring Ray Harryhausen in this movie by going with stop motion instead of CGI when it came to the monsters. That'd be pretty kick ass if they could swing that. I think Guillermo del Toro has the sort of direction that would lend well to an epic story like this, but I don't expect it to become the next LOTR.
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