Freddy Krueger is ready to be seen up close again.
Paramount has signed a deal for the U.S. film rights to the original “A Nightmare on Elm Street” screenplay under its new genre label, Paramount Primal. Domestic rights have been licensed from the Wes Craven Estate, which includes Craven’s widow Iya Rabunka and son Jonathan Craven. The two will produce the film along with attorney Mark Toberoff, who helped the filmmaker’s family regain ownership of the kickoff film.
The as-yet-untitled film is in development under Paramount Primal. Plot details have not yet been revealed, but the film will be set in the world of A Nightmare on Elm Street and will be based on the 1984 first film. That means we’ll see more of Krueger, the iconic child murderer with a burnt face and metal claws.
Paramount’s new genre label will be led by JD Lifshitz and Raphael Margules, the production team behind Weapons, Barbarian, Companion and Friendship.
“Jonathan and I are very excited to partner with JD and Raffi and the incredible team they have assembled at Paramount Primal,” Labunca said in a statement. “We look forward to bringing the world of Wes Craven’s A Nightmare on Elm Street to a new generation of fully immersed fans. I’m sure Wes was thrilled to see how horror is taking its long-overdue place in the cultural canon. We can’t wait to see the next chapter of the Nightmare story unfold as we all sit together in a darkened theater around a campfire today.”
Paramount Pictures also revealed that its previously announced label will now be known as Paramount Primal. The label will partner with emerging storytellers and established filmmakers to produce smartly budgeted films spanning the horror, comedy, action and sci-fi genres.
Lifshitz and Margules will serve as executive producers for Paramount Primal. WME, Industry Entertainment and Ziffren Brittenham LLP represent the Wes Craven Estate.
Krueger has appeared in nine films, as well as television series and video games. He last appeared on screen in the 2010 reboot of A Nightmare on Elm Street, which grossed more than $117 million on a $35 million budget. New Line previously released the Elm Street films and holds international rights to the series. Paramount is in the process of acquiring New Line’s parent company, Warner Bros. Discovery.
