MGM is planning to remake two of its hits from the '80s, The Hollywood Reporter says.

Studio heads Harry Sloan and Mary Parent revealed at the Cannes Film Festival that John Milius's 1984 film Red Dawn, which sees Communists igniting World War III by invading the US from Cuba and Russia, is being scheduled for a remake.

Paul Verhoeven's Robocop, about a fatally wounded police officer who is turned into a cyborg crime fighter, is also likely to get the remake treatment.

Sloan also brushed aside the negativity surrounding the release of Valkyrie from MGM subsidiary United Artists.

"We've had image problems before," Sloan noted, referring to bad word of mouth on Casino Royale and Rocky Balboa. "The film will speak for itself."