Yes. You read that correctly. Deadline is reporting that the 1973 Lois Duncan novel I Know What You Did Last Summer is being adapted for the screen – again – by Sony Pictures. Currently, there is no director attached to the project and no news regarding who will star in the picture. But we do know that up-and-coming horror auteur Mike Flanagan (Oculus) has signed on to both write and produce the reboot with Neal Moritz (who produced the original I Know What You Did Last Summer) also producing.
The 1997 film I Know What You Did Last Summer raked in over $125 million at the global box office for Sony, so their desire to reboot the franchise makes financial sense. But it’s surprising to see a studio remake a horror title that is barely fifteen years old with a back catalogue of older, more obvious, titles that have not been granted the reboot treatment.
Mike Flanagan is known for his ability to produce quality fright fare on a limited budget. His debut feature Absentia was born from a Kickstarter campaign and made very effective use of its micro budget. His follow up feature Oculus was also made for very little and turned substantial profits.
The project is reportedly a major priority for Sony and they have set their sites on a 2015 release. Little else is known about the remake at this point but we will keep you apprised as more details about the project are unveiled.