Two Nightmare on Elm Street movies are reportedly in development

Get ready for a potential double dose of Freddy Kreuger.

Just weeks ago, we reported that Paramount Pictures had acquired the rights to the initial A Nightmare on Elm Street film from Wes Craven's estate. Craven wrote and directed the 1984 slasher, and the deal gives Paramount U.S. distribution rights and rights to the initial screenplay only. In other words, any new Nightmare on Elm Street film from Paramount would be a reboot of that first film and nothing else.

Well, now, another Nightmare on Elm Street film is apparently in development, thanks to Warner Bros. The tip regarding Warner's plans to resurrect Freddy came from Puck. The outlet reported just yesterday that because of the franchise's messy and complicated rights situation, Warner is also developing a new film. Though Paramount obtained the U.S. distribution rights, Warner still owns the international rights.

Because of this, Warner would develop and distribute its own Freddy-centric film overseas, while Paramount wanted Warner to distribute its film, if the Paramount-Warner merger occurred. However, the merger is currently on hold, as it makes its way through the U.S. judicial process. Several state attorney generals have sued to halt the merger over monopolization and anti-trust concerns.

Heather Langenkamp as Nancy from 1984's A Nightmare on Elm Street- Courtesy of Warner Bros.

Here's how the Warner-Paramount merger altered the initial plans for A Nightmare on Elm Street reboot

According to Puck's reporting, Warner already initiated plans for a new Nightmare on Elm Street movie and has started talks with Lee Cronin to write, direct, and produce. Cronin most recently directed Evil Dead Rise and Lee Cronin's The Mummy. So far, Paramount hasn't announced a writer and/or director for their planned film.

In that Puck article, a source was quoted as stating, "The domestic rights deal for the original A Nightmare on Elm Street screenplay was negotiated independently and was not based on any expectations beyond the domestic rights themselves."

If Warner rushes their project into development, it's unclear if Paramount will just cancel their planned film. However, as we previously reported, Paramount has a deal with Craven's estate, and this includes his widow, Iya Labunka, and his son, Jonathan Craven. They also plan to produce Paramount's reboot, along with Marc Toberoff, an attorney-turned-producer, who specializes in copyright law.

As for the future of Freddy, it's likely he'll return to the big screen sooner rather than later, though it's unclear if it'll be through Warner, Paramount, or both. Either way, it's unlikely that Robert Englund will reprise the iconic role. He's stated over the last few years that due to his age and the grueling makeup process, it would be too difficult for him to return in any major capacity.

In total, there have been nine Nightmare on Elm Street films, including Freddy vs. Jason from 2002, which is the last time Englund played the character. There was then a remake in 2010, starring Jackie Earle Healey as the villain.

As more news about the dueling Nightmare on Elm Street movies breaks, we'll report it.