Karate Kid fans, you’re in for a real treat! Jackie Chan and Ralph Macchio are teaming up for a brand new Karate Kid film. Both stars will be reprising their roles from their Karate Kid films. Even more exciting, Macchio and Chan recently revealed that they are looking for the next Karate Kid. Kids from all over the world can submit an audition tape to become the star of the next film in the martial arts franchise.