Recently, reports from a certain anon account on Twitter have spread like wildfire across the community saying that Blumhouse is bringing back Freddy Krueger and the Elm Street franchise. We decided that it might be a good idea break down the facts and tell you what we know.

First and foremost, we have been told that Wes Craven’s estate has the rights locked in, which Bloody Disgusting first reported. Up until last year, New Line Cinema was the only studio who would have any form of access to said rights. OTN has heard from multiple sources that Jason Blum has been advocating to get the rights and has been trying to convince the Craven estate for quite a while now. Last year, per a report from Puck, it was revealed New Line Cinema, who’s released every film in the franchise, was negotiating to maintain the domestic rights to the franchise as well as develop future films. As of now, it is unknown what came of that.

Now, here’s where it gets complicated.

There have been rumours of the Craven estate finally giving in and that a bidding war secretly took place amongst the studios for the rights to Elm Street in the last month or two. We at OTN have only heard of these rumours and haven’t been able to corroborate it at the time of this writing. The rumour states Blumhouse won the rights to Elm Street and that they’d be developing a new film. It’s also been known to us and many within the inner circles of studios that the Craven estate has priced Elm Street rights obnoxiously high and won’t budge, thus making it harder to come for a new film to be developed and making the rumor of a bidding war seem less true.

UPDATE 08/04/23: A source has reached out to One Take News and corroborates the rumor of a bidding war for the Elm Street rights occurring earlier this year. We will update this article should we get more information.

So, what does this all mean?

We hate to be the bearer of bad news, but One Take News has heard that at the time of this article, Blumhouse is NOT developing a new Elm Street project and that the rights do not belong them .HOWEVER, we have heard whispers of New Line re-gaining the rights but we have not confirmed this. We reached out to New Line for comment on the matter and will update this article if they respond.

No new Elm Street films have been in development since 2010 and Robert Englund has said he’s retired from playing his signature character. As to what the future of this franchise is, is currently unknown but if time has told us anything, Freddy will be back soon enough.