https://ohmy.disney.com/news/2017/02/17/breaking-james-earl-jones-and-donald-glover-join-the-cast-of-the-lion-king/?cmp=smc%7C813746180
Looks like James Earl Jones will be reprising his role as Mufassa.
https://www.thesun.co.uk/tvandshowbiz/1871945/disney-confirms-the-lion-king-remake-is-happening-and-will-be-a-live-action-re-imagining/
After his work on the remake of The Jungle Book, it seems Jon Favreau is now working towards creating a Lion King remake as well. This will probably be live...