A new untitled dance movie is taking shape at Lionsgate, set in the 1990s and starring and executive produced by "Dirty Dancing" Golden Globe nominee Jennifer Grey. While details are being kept quiet, there’s some rumblings that a new "Dirty Dancing" movie could be in the works. Sources aren’t confirming, but they aren’t putting the idea in a corner either.

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Lionsgate holds distribution rights to the "Dirty Dancing" films, and Grey, 60, of course, played teenager Baby in that movie who falls for her Catskills resort dance instructor, Johnny Castle, played by the late Patrick Swayze. The first movie released in 1987 by Vestron racked up $218 million at the global box office off a $5M production cost, as well as an Oscar and Golden Globe win for the original song “(I’ve Had) The Time of My Life” by Frank Previte, John DeNicola and Donald Markowitz. At the Globes, "Dirty Dancing'" was nominated in the comedy/musical category with nods for Swayze as comedy/musical actor and Grey as actress.

Patrick Swayze (left) and Jennifer Grey in 'Dirty Dancing.' (Lionsgate)

"Dirty Dancing" was the first movie to sell over 1 million copies on home video and yielded two multi-platinum soundtrack albums. Lionsgate made a sequel in 2004, "Dirty Dancing: Havana Nights," starring Diego Luna, Romola Garai, January Jones, John Slattery and Sela Ward. It grossed close to $28M worldwide.

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The new dance film is being shepherded by Megamix’s Jonathan Levine and Gillian Bohrer, with a screenplay by Mikki Daughtry and Tobias Iaconis ("Five Feet Apart," "The Curse of La LLorona"). Back in February, Lionsgate took the much anticipated follow-up YA novel to "Five Feet Apart," "All This Time," by Daughtry and Rachael Lippincott, off the table for six figures after multiple studios were circling. Daughtry and her writing partner Iaconis are adapting and also executive producing the feature version of "All This Time." They and Lippincott adapted the novel "Five Feet Apart" from the screenplay Daughtry and Iaconis wrote.

Jennifer Grey will star in and executive produce a new dancing-themed film for Lionsgate. (Photo by Frazer Harrison/Getty Images)

Grey recently starred in the Amazon comedy "Red Oaks" executive produced by Steven Soderbergh and David Gordon Green. She also starred in the indie feature "Untogether" opposite Billy Crystal, Jamie Dornan, Scott Caan and Ben Mendelsohn. Recent TV credits include "The Conners" and "Grey’s Anatomy," as well as her turn on David Milch’s HBO series "John From Cincinnati."

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Grey is repped by UTA and Untitled Entertainment. Daughtry and Iaconis are represented by David Boxerbaum at Verve, Adam Kolbrenner at Lit Entertainment Group and attorney Scott Whitehead of Mckuin, Frankel.