New Line Cinema is going to try and do some magic. They want to make Nightmare On Elm Street fans forget about the 2010 reboot with Jackie Earle Haley and start over again. The iconic horror character Freddy Krueger, played for years by Robert Englund, didn't do so well five years ago, so the studio is going to try it again. And they've turned to writer David Leslie Johnson (Orphan) to pen the script.
The Nightmare franchise is basically what put New Line on the map as a distributor, so it makes sense for them to stick to the character and try again so quickly. Not like Sony / Spider-Man quickly though.
[Source: The Tracking Board]