A few months ago, Elijah Wood and Daniel Noah of the production company SpectreVision revealed to ComingSoon.net that they "have long fantasized having a crack at NIGHTMARE ON ELM STREET" and have "been in touch with the rights holders many times". While appearing on Bloody Disgusting's Boo Crew Podcast this week to promote his new film COME TO DADDY, Wood once again discussed what SpectreVision could do with the ELM STREET property.
I'm sure that many fans will be relieved to hear that Wood doesn't have any interest in remaking the original NIGHTMARE ON ELM STREET all over again, because that story has already been told twice. What he would like to do is make a sequel to the original films, bring Robert Englund back, and then find a way to have the story move beyond Freddy Krueger.
You almost have to let Freddy go and move into a different direction. I think you bring Freddy along for the ride initially, but you have to go somewhere else with it because it’s such well-trodden ground."
Wood said Englund "has to" be in it,
to honor that series. To honor that character. To honor [Wes] Craven. I think you have to do that, and then you can express beyond that."
Englund has said that he would be interested in coming back to play Freddy one more time, and Wood is fully aware of that fact.
The folks at SpectreVision aren't the only notable genre filmmakers hoping to get their hands on an ELM STREET project. When it was announced that the rights to the franchise had reverted from New Line Cinema to Wes Craven's estate, DOCTOR SLEEP director Mike Flanagan said that he has an ELM STREET pitch as well.
As far as we know, there isn't anyone currently attached to make a new NIGHTMARE ON ELM STREET, so we'll just have to wait and see how this all plays out.