Just five years after remaking A Nightmare on Elm Street, New Line Cinema is taking yet another stab at bringing Freddy Krueger back to the big screen.

According to Tracking Board, New Line is moving forward with a new Nightmare on Elm Street remake/reboot, which will completely disregard the 2010 film starring Jackie Earle Haley.

We don't yet have a director for the project, but the new remake will be written by David Leslie Johnson (Orphan, Wrath of the Titans). Platinum Dunes, Michael Bay's production company which produced the 2010 movie, is not currently on board with this version.

The most recent Nightmare on Elm Street was a huge disappointment both on a critical and financial level. Fans found it to be a joyless cash grab that simply recreated all the famous scenes from the original but less effectively, not bringing anything new to the table. Box Office wise, the film made $63 million domestically, not exactly the smash hit the studio was hoping for considering the $35 million budget. For comparison, that same year Paranormal Activity 2 made $84 million on a $3 million budget. Could the new movie finally get it right and launch a great new series?

With this announcement, three of the biggest '80s slasher icons, Freddy Krueger, Jason Voorhees and Michael Myers, are all headed back to theaters. A new Friday the 13th hits the big screen on May 13, 2016, and Halloween Returns is also heading into production, as we previously reported.