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Get ready for a new nightmare — Freddy Krueger is returning to our screens!

HOLLYWOOD, CA – JANUARY 13: Actor Robert Englund poses with Freddy wax figure at the Hollywood Wax Museum for the debut of the DVD release of "Freddy Vs. Jason" on January 13, 2004 in Hollywood, California. (Photo by Stephen Shugerman/Getty Images)
Paramount Pictures (a big movie-making company) has made a deal to get the U.S. rights to the original "Nightmare on Elm Street" screenplay.
The Craven estate includes:
They will help produce the new version, along with a person named Marc Toberoff.
Important Point: The original creator’s family is directly involved in making the new movie, so it stays true to Wes Craven’s vision.
Iya Labunka shared a statement with The Hollywood Reporter:
"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. 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."
In simple words: They are excited to share Freddy with a whole new group of fans and think Wes would be happy that scary movies are now respected as real art.

PASADENA, CA – JULY 10: Director Wes Craven speaks during the 2006 Summer Television Critics Press Tour for the Starz Entertainment Group at the Ritz Carlton Hotel on July 10, 2006 in Pasadena, California. (Photo by Frederick M. Brown/Getty Images)
The first "Nightmare on Elm Street" came out in 1984. It made Freddy Krueger a super famous scary character.

American actor Robert Englund poses, in character as Freddy Krueger, New York, New York, circa 1986. (Photo by Larry Busacca/WireImage)
The first movie started a huge series of stories:
The new film will be part of something called Paramount Primal.
But as the article jokes — we can dream!
Important Point: Follow @WeArePauseRewind on Instagram for more pop culture news like this.
Paramount Pictures has acquired the U.S. rights to the original "Nightmare on Elm Street" script from Wes Craven’s family, who will help produce a new movie. The original 1984 film introduced dream-killer Freddy Krueger and launched a massive horror franchise. The new film falls under Paramount Primal, run by the producers of "Barbarian." No cast or date has been revealed, but fans old and new have a fresh nightmare to look forward to.
1. Who was Wes Craven?
Wes Craven was the writer and director who created "Nightmare on Elm Street" in 1984. He passed away, and his family now helps protect his work.
2. What is Paramount Primal?
It is a special horror-focused label inside Paramount Pictures, led by J.D. Lifshitz and Raphael Margules.
3. Will Robert Englund return as Freddy?
We don’t know yet — no casting has been announced.
4. Is this a remake or a sequel?
It is a new version based on the original screenplay, with the Craven estate involved as producers.