Cannibal Holocaust to be remade?

Variety reports:

Relevant Entertainment has acquired rights to and will remake the 1980 cult horror film "Cannibal Holocaust." It's aiming for a summer start.

Relevant partner Michael Menchel and associate Steve Whitney will produce. The project is fully financed by Keith Previte of Scorched Earth Entertainment and Catherine Williams, who also will serve as producers. Paul Mason, Jordan Rush and Larry Joackim will exec produce.

The original, directed by Italian helmer Ruggero Deodato, has been banned in dozens of countries due to its gore and violence. Pic centers on a professor traveling to South America to find out what happened to a film crew that disappeared while shooting a documentary about reputed cannibal tribes. He eventually discovers the remains of the crew and several reels of undeveloped film, which show the disastrous consequences of the crew's decision to provoke the natives.

Deodato shot the pic in documentary style and was jailed briefly after the Italian premiere until he could prove the actors were unharmed.

Whitney, who spent six months securing the rights, previously partnered with Previte for the 2005 remake of "The Amityville Horror." Whitney and Previte also exec produced "Borderland" for Lionsgate.

Relevant's in pre-production on "Haunting in Connecticut" for Gold Circle/Lionsgate and is developing "The Tortoise and the Hippo" for Walden Media and "Pledged" for Paramount.

What do you all make of that? Surely this will never be as hard-hitting or as relevant as the original?