ET has the latest...

ASHLEY TISDALE is set to remake a popular '80s teen movie -- none other than 'Teen Witch'! Variety reports that the "High School Musical" star is in talks with TOM CRUISE's United Artists to star in the the fun flick where she would play Louise Miller, an unpopular girl who finds out she's the descendant of witches and soon possesses her own powers.

Meanwhile, Ashley is also coming close to signing a new first-look deal with Fremantle Media North America, which would develop projects for the actress.