...he can't do it. Literally. The rights to the sci-fi cult classic are apparently tied to the original writer, John Beutel, who allegedly will not budge on giving way to a potential remake, sequel, or reboot for the film property. Interestingly enough, actor/producer Seth Rogen shed some light on the niche situation in a conversation he had with Star Wars standalone film writer Gary Whitta and Peter Sciretta of Slashfilm on twitter.
That discussion was sparked by a modern trailer I had cut for the film that eventually made its way to Whitta via YouTube thanks to coverage from several blogs (all of whom I very thankful for sharing my little passion project).
Supposedly everyone in Hollywood has been trying to get their hands on this film property for years, but for whatever reason, Beutel has not released the rights. It's a dead-end, according to Whitta. While I admire Beutel's nobility of wanting to keep his work untouched, I personally believe The Last Starfighter is a film just begging for a reboot, remake or a sequel. The inherent narrative was way ahead of its time when it came out in 1984, and would be wholly relevant in today's culture.
Hopefully one of these days Beutel will gain an interest in seeing another Last Starfighter film made. Who knows, maybe it'll actually be Spielberg or Rogen that will eventually win him over with some solid ideas and prospects; maybe not for a film, but perhaps a TV show or a mini-series based on The Last Starfighter? Either way, I'd be game for anything really. For now though, fans of the film will just have to bide their time.