No cast or crew has yet been signed up, but Sky said that the new version would have its UK premiere on Sky Movies and be made available through Sky Player and Sky Anytime.
'Rocky Horror Picture Show' is the 1975 film of the stage musical, which appeared with the strapline "a different set of jaws", in reference to the hit movie that year. It stars a youthful Susan Sarandon, along with Tim Curry and Meatloaf and also features Christopher Biggins.
The film took on a life of its own after audiences began turning up in costume and singing along, and otherwise participating in the action. One of the tunes, 'Let's Do The Time Warp Again', is a party classic.
Lou Adler, executive producer on the first film and in the same role on the remake, said: "Our hope has always been that each new endeavour and rebirth will expose the Rocky Horror Experience to new audiences and expand the fan base.
"Those new fans and old alike will return to the original film to enjoy and participate with the exceptional and timeless performances of Tim Curry, Richard O'Brien, Susan Sarandon and the entire cast. So here we go again, with a new cast, believing that the Sky and MTV remake will add to the Rocky Horror phenomenon."
The film follows the story of two wholesome young Americans, Brad and Janet, who stumble upon transsexual Dr Frank-n-Furter's castle, where he is hosting a convention of Transylvanians.
Jim Sharman, who co-wrote the original screenplay and directed the movie, said: "The original has some qualities that can't be reproduced but a remake could have its own very different strengths and qualities."
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