Overview
- Friday reports say both studios are actively developing separate Elm Street films, creating a direct race after Paramount closed a deal with the Craven estate for domestic rights.
- Paramount’s agreement requires use of Wes Craven’s original 1984 screenplay for U.S. release and lists estate-affiliated producers including Iya Labunka and Jonathan Craven.
- Warner, which kept New Line’s international rights, is pursuing its own version and is reportedly in talks with filmmaker Lee Cronin to write, direct, and produce.
- Industry sources say the rush to advance projects is tied to delays in Paramount’s proposed acquisition of Warner Bros. Discovery, a deal pushed toward mid-2027 by antitrust and WGA legal challenges.
- The split in rights creates clear trade-offs: Paramount faces creative limits and direct comparison to the 1984 film, while Warner has broader commercial freedom overseas and control of merchandising.