Ortega is in negotiations to helm and choreograph, and Efron is in talks to play Ren McCormack, the rebellious newcomer (originally played by Kevin Bacon) in a town where dancing has been banned.
Original was directed by Herb Ross and scripted by Dean Pitchford.
Plan is to turn the project into a full-blown musical. “Footloose” was already turned into a Broadway tuner.
The 19-year-old Efron made his breakthrough with the Ortega-directed Disney Channel teletuner “High School Musical” and just completed an Ortega-directed sequel with the original cast; a third installment is in the planning stages.
Efron makes his feature debut in “Hairspray,” which New Line releases Friday.