The Freddy vs. Freddy fiasco is over; only Paramount's Nightmare on Elm Street reboot will move forward

Freddy Kreuger was one of the biggest horror icons of the 1980s and early 1990s. There was a period during his heyday when there was a new Nightmare on Elm Street movie yearly. Since then, the Fedora-wearing murderer hasn't haunted the silver screen since the 2010 remake.

Then, earlier this year, we reported that there was not one, but two Nightmare on Elm Street movies in the works. Warner Bros. initially planned to create a new movie, with Lee Cronin (Evil Dead Rise, The Mummy) rumored to direct. This was possible only because of the franchise's messy and complicated rights situation. Paramount obtained the U.S. distribution rights and had the okay from franchise creator Wes Craven's estate to do a reboot of the first movie, but Warner Bros. still owned the international rights.

Because of this, Warner Bros. would have distributed its own Freddy-centric film oversees, while Paramount created a movie for domestic audiences only. However, now, there will be only one movie. The Freddy vs. Freddy fiasco is over.

According to Dread Central's reporting, Paramount Primal, a sub label of Paramount that will focus exclusively on genre movies, will helm the only Nightmare on Elm Street project moving forward. In October, Paramount/Skydance officially completed the acquisition of Warner Bros., so the companies now fall under the same roof. After the merger finalized, it only seemed like a matter of time before one of the competing Freddy projects was scrapped.

After Paramount's announcement about a single Nightmare on Elm Street movie, questions still remain

What remains unclear at this point is what exactly a new movie will look like and what it will entail. Paramount has permission to draw from Craven's original 1984 screenplay. However, Dread Central stated in their reporting that this doesn't necessarily mean recreating the movie scene for scene. Dread Central also questioned what a new movie would look like. Hopefully, it means a fresh reinterpretation or reimagining of the original film.

Additionally, all of this is only in the early stages. No screenwriter or director have been hired for the project. There's also the major challenge of recasting Freddy. It's extremely unlikely that Englund will reprise the role, due to his age and the laborious make-up process required. Let's hope that he'll at least have a cameo.

In total, there have been nine Nightmare on Elm Street films to date. This includes the 2010 remake and 2003's Freddy vs. Jason. Freddy may not be the mega pop culture icon and even part-time MTV host that he used to be, but he's still one of the most recognizable horror villains out there. With the success of Crystal Lake and the return of Jason Voorhees, it's likely Paramount will get a quick move-on to reboot A Nightmare on Elm Street.

Are you excited to see Freddy hack and slash teens again? Let us know in the comments!