In some exciting news for horror lovers, The Hollywood Reporter (via FearHQ.com) has revealed that Paramount Pictures has acquired the rights to Wes Craven's original screenplay for A Nightmare on Elm Street.
This means Freddy Krueger is finally returning to theaters, with Craven's original script adapted into a new movie under the studio's recently launched genre label, Paramount Primal. That's led by J.D. Lifshitz and Raphael Margules, the producers behind horror hits like Barbarian and Friendship.
The rights to A Nightmare on Elm Street are complicated. New Line Cinema and Warner Bros. previously held them after releasing the original movie in 1984. That spawned seven sequels, a reboot, a TV series, comics, and merchandise that continues to appear on store shelves.
U.S. copyright laws allow authors to reclaim rights 35 years after publication. The Craven estate, along with attorney-turned-producer Marc Toberoff, regained the rights in 2019 and has largely sat on them ever since. However, while Paramount holds the domestic rights after this deal, New Line will likely release the reboot internationally.
No details bout this reboot have been revealed, beyond it being "set in the world of A Nightmare on Elm Street, based on the original screenplay."
Craven's widow, Iya Labunka, said today, "We look forward to bringing the world of Wes Craven’s Nightmare on Elm Street to a new and completely engaged generation of fans."
"We know that Wes would have been thrilled to see how horror is taking its long overdue place in the cultural canon," she continued. "We can’t wait for all of us to sit together in a dark theatre – around the campfire of today – as the next chapter of the Nightmare story unfolds."
Lifshitz and Margules added, "We can’t remember a time before we were fans of Wes Craven. The fact that Iya and Jonathan have entrusted us with this opportunity to help usher a new story into this world is an honour beyond words. We look forward to working alongside them to bring a terrifying new nightmare to audiences everywhere, and to welcome Freddy home."
In A Nightmare on Elm Street, Nancy is having grisly nightmares. Meanwhile, her high-school friends, who are having the very same dreams, are being slaughtered in their sleep by the hideous fiend of their shared nightmares. When the police ignore her explanation, she herself must confront the killer in his shadowy realm.
Robert Englund and, to a lesser extent, Jackie Earle Haley, are best known for playing Freddy Krueger in A Nightmare on Elm Street. There's currently no word on who will be next to play the iconic villain.
Are you excited for a new take on this horror classic? Let us know your thoughts in the comments section below.