Latest word is that it will be a sequel rather than a remake, but not a direct one. So something set in the same world, but with different characters I guess. Apparently they've also been working on a Dark Crystal sequel and a Fraggle Rock movie.
Actually, all this, so far, is shaping up to be all good news.
(IMHO) It makes more sense to do "Labyrinth" as a sequel, then a remake.
I can't find anything on "The Dark Crystal" sequel, but . . .?! That's something I see.
And as for a "Fraggle Rock" movie, they have been trying to get something out there since 2006. As for anyone associated with it, the only name I have heard is Joseph Gordon Levitt. Which actually makes quite a bit of sense, if he is to be in it.
And we'll see what we'll see.