MGM has assembled much of the lead cast for the $25 million upcoming remake of the 1980 musical "Fame" says The Hollywood Reporter.

Much like Alan Parker's Oscar-winning original,the story will track the failures and fortunes of super-ambitious young performers and their teachers as they navigate a school year at the prestigious High School for the Performing Arts in New York.

The most familiar name on the list is "Terminator: The Sarah Connor Chronicles" star Thomas Dekker who is in negotiations to take one of the remaining leads.

Already set are Kristy Flores as dancer Rosie, Paul Iacono as filmmaker Neil, Paul McGill as gay dancer Kevin, Naturi Naughton as classical pianist Denise, and "CSI" star Kay Panabaker as an actress named Jenny.

There's also Kherington Payne as a ballerina named Alice, Collins Pennie ("Half Nelson") as an artist named Malik, Walter Perez ("Friday Night Lights") as musician Victor, and Anna Maria Perez de Tagle ("Hannah Montana") as Joy Moy.

Debbie Allen, who played Lydia in the original, is rumored to be cameoing as a different character. Dekker's role would be that of a singer named Marco.

Written by Allison Burnett and Aline Brosh McKenna, the reinvention will be directed by choreographer Kevin Tancharoen. Shooting begins late November for a September 25th 2009 release.