(Image Source: New Line Cinema)
Paramount Pictures announced today that it has acquired the rights to the script for the original "A Nightmare on Elm Street" film and is preparing to develop a new remake.
Jonathan Craven, son of the late director Wes Craven, who originally conceived the "A Nightmare on Elm Street" series, and Wes's widow, Iya Labunka, are set to produce the new film. The director and screenwriter have yet to be determined. It also remains unknown who will step into the iconic role of Freddy Krueger, originally portrayed by Robert Englund.
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New Line Cinema, the original studio behind the "A Nightmare on Elm Street" franchise, previously held all rights to the series. However, Craven's estate, permitted by copyright law, reclaimed the U.S. rights to the first film's script 35 years after its initial release. While New Line still retains international rights to the franchise, Paramount Pictures has now secured the U.S. rights granted by the estate.
This marks the second reboot for the franchise, coming 16 years after the 2010 remake, "A Nightmare on Elm Street." That previous iteration was not well-received by critics and audiences, leaving many to wonder if this new attempt can successfully revitalize the beloved horror series.