Producers have set a budget of between $10 million and $20 million and are aiming to complete the film for a 2014 release.
Campbell and Grobman produced “Texas Chainsaw 3D,” which grossed $34 million this year in its release from Lionsgate.
“Day of the Dead” centers on a few survivors hiding from zombies, who have taken over the world. It’s the third film in Romero’s “Dead” series, including “Night of the Living Dead” in 1968 and “Dawn of the Dead” in 1978.
“Day of the Dead” was shot for $3.5 million and generated worldwide grosses of $34 million.
The Los Angeles Times first reported news of the reboot.