New Line Cinema is developing a remake of the 1980s horror movie franchise "A Nightmare On Elm Street," Tracking Board exclusively reported. Freddy Krueger, one of the most iconic movie killers, is slated to make a comeback with David Leslie Johnson at the helm of this classic reboot.

Johnson, who penned 2009's "Orphan" and episodes of "The Walking Dead," was hired as a writer to update the terrifying thriller about a serial killer who targets teens in their dreams, The Wrap confirmed. New Line attempted a Michael Bay-produced  "A Nightmare On Elm Street" reboot in 2010 and although it earned $115 million, the film wasn't well-received critically.

Actor Robert Englund brought the striped sweater and fedora-wearing serial killer Freddy Krueger to life in Wes Craven's 1984 film. Englund reprised his role as Krueger in seven more sequels, as well as in the horror movie crossover "Freddy vs. Jason." He passed on his razor blade glove to Jackie Earle Haley for the 2010 reboot.

The franchise's makeover is part of a bigger wave of horror movie remakes, according to Tracking Board. Updates for Sean S. Cunningham's 1980 hit franchise "Friday the 13th" and John Carpenter's 1978 slasher "Halloween" franchise are also currently in development. A prequel to Tobe Hooper's 1974 cannibal blood bath "The Texas Chainsaw Massacre" is in the works as well.