Freddy vs. Freddy: Warner Bros. and Paramount Prepare Two "A Nightmare on Elm Street" Films - Media

Due to split rights and a prolonged merger, the studios may release two independent versions of the Freddy Krueger story.

Warner Bros. and Paramount are simultaneously developing their own reboots of "A Nightmare on Elm Street." According to Puck, the studios are essentially in a race: each hopes to be the first to launch a film into production and force the competitor to abandon their project.

This unusual situation arose due to the division of franchise rights. Wes Craven's heirs own the rights to the original screenplay in the US, while Warner Bros. and New Line Cinema retained international rights. Thanks to an agreement with the director's family, Paramount will be able to release its version in American cinemas, while Warner Bros.'s version, conversely, will only be able to be released in the international market.

Paramount is creating the project with the participation of Craven's widow, Iya Labunka, his son Jonathan, and lawyer Mark Toberoff. The studio gained access to the original screenplay, so the new film will be closely linked to the 1984 film, although it is officially described as a standalone story. A director has not yet been chosen.

Warner Bros., unable to reach an agreement with the heirs, is betting on a freer reinterpretation of the franchise. According to media reports, the studio is in talks with Lee Cronin ("The Mummy"), who could simultaneously write, direct, and produce the film.

Additional intrigue is created by the impending merger of Warner Bros. and Paramount. Paramount had hoped to complete the deal before filming began, but Warner Bros. management decided not to wait and accelerated the development of its own project.

According to Puck's sources, Paramount believes that even a film limited to American distribution can gross at least $70 million. Warner Bros., in turn, simply hopes to outpace its competitor. Release dates for both films have not yet been announced.