An update/remake could work
Hollywood. This movie could use an "update" (we all know how you love those). However, this would be cheap, easy and probably be a money-maker.
Websites can easily be made difficult to trace. If you wanted to make a movie where some kid did this by broadcasting over the Internet, it wouldn't be such a bad idea.
It's almost 20 years later, so the stakes of the movie could easily be made higher and really should be.
The NSA could get involved.
It could still center around a nobody kid (I recommend the dude who plays John Conner in the Terminator TV series) and a hot chick who gets him. As much as I hate to say it, that's a plotline that will never change simply because it works.
In an age where pretty much anyone can do anything on the web, someone doing something like this is not that far fetched.
At the end, they have a bunch of kids from around the country getting on the radio and doing the same thing. In this case, you could have the same ending.
And last but not least -- tweens and teens would eat this *beep* up and fill your pockets.