Yep, it's true. Disney came out today saying that they will be producing a new "iteration" of the beloved Halloween film as a DCOM, a Disney Channel Original Movie. So no need to freak out too much. Since it will be low-production and not a full-fledged big theatre event.
Don't touch it. I get that this movie may exist as a dusty VHS in someone's attic but it's so iconic. It's well viewed year after year, I don't see the need to revamp it.
While I do oppose many reboots of classics, cause I don't think you should ruin a good thing. It's successful is some situations. Like with IT, it was not a reboot, but more of a different cinematic interpretation of Stephen King's classic.
Good news is that David Kirschner is producing the DCOM and he was the producer of the original Hocus Pocus.
It's in "early development" (Oh My Disney) said. So don't be annoyed just yet.
And let's be real, can anyone do better than Bette Midler?? I don't think so.