Freddy Krueger is Back! Paramount is Reviving A NIGHTMARE ON ELM STREET

Freddy Krueger is getting ready to invade our dreams once again. After years of rumors and uncertainty surrounding the future of the franchise, A Nightmare on Elm Street is officially coming back.

Paramount has struck a deal with the estate of legendary filmmaker Wes Craven to develop a brand-new film set in the world of the original horror classic, giving one of cinema's most iconic slashers another shot at terrifying audiences.

The new project will be developed under Paramount's recently launched Paramount Primal genre label, which is putting horror front and center.

According to the official announcement, "the [as-yet] untitled film is priority development under Paramount Primal; plot details have yet to be revealed, but it will be set in the world of A Nightmare on Elm Street, based on the original screenplay."

The new movie will be rooted in Craven's original screenplay, the foundation of the groundbreaking 1984 film that introduced movie fans to the dream-stalking killer with the filthy red-and-green sweater, razor glove, and a twisted sense of humor.

The rights to that screenplay were licensed directly from Craven's estate. The legendary filmmaker passed away in 2015, but his influence on horror has only continued to grow over the years.

This new installment will become the tenth film in the franchise, following nine previous entries that include Freddy vs. Jason and the much-maligned 2010 remake starring Jackie Earle Haley as Freddy Krueger.

As much respect as Haley deserves as an actor, plenty of horror fans never fully embraced anyone other than Robert Englund wearing the hat and glove. Which brings us to the biggest unanswered question surrounding this announcement.

Will Englund return?

The press release doesn't mention him at all, and that's hard to ignore. Englund is now 79 years old, but he's still actively acting. Horror fans recently got another reminder of how great he still is with his unsettling appearance in Stranger Things.

Whether he returns as Freddy, mentors a new actor, or appears in another capacity, it certainly feels like his involvement would go a long way in making this new chapter feel like a true Nightmare on Elm Street movie. Englund has said he is interested in returning!

Another mystery is who will ultimately write and direct the film. Paramount is keeping those details under wraps for now, but development is officially underway.

Leading the charge at Paramount Primal are J.D. Lifshitz and Raphael Margules, who will also executive produce the film. They shared their excitement about stepping into one of horror's most legendary franchises, saying:

“We can’t remember a time before we were fans of Wes Craven. The fact that [Craven estate representatives] Iya [Labunka] and Jonathan [Craven] have entrusted us with this opportunity to help usher a new story into this world is an honor beyond words.

“We look forward to working alongside them to bring a terrifying new nightmare to audiences everywhere—and to welcome Freddy home,” Lifshitz and Margules said in the press release.

Iya Labunka, representing Craven's estate alongside Jonathan Craven, also expressed excitement about the partnership and what this new movie could mean for longtime fans as well as newcomers.

“Jonathan and I are so excited to be partnering with J.D. and Rafi along with the terrific team they’ve assembled at Paramount Primal.

“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.”

It's been more than a decade since Freddy Krueger last appeared on the big screen, and horror has changed dramatically during that time. The genre is thriving, audiences are embracing original ideas alongside legacy franchises, and now one of horror's greatest icons is preparing for another chance to haunt our dreams.

Now all that's left is finding out who's stepping into the nightmare... and whether Robert Englund still has one more visit to Elm Street left in him.