Paramount's 'A Nightmare on Elm Street' remake wins studio showdown

The battle over Freddy Krueger's future has a winner. Following a corporate merger that brought Warner Bros. and Paramount under the same Skydance umbrella, the need for two competing Elm Street movies is gone, according to MovieWeb.

Per Dread Central's reporting, the Paramount Pictures project, which will adapt Wes Craven's initial script, is the one moving ahead. It will be released under the studio's new Paramount Primal horror label. Warner Bros.' rival film, which was to be directed by Lee Cronin, has been shelved.

The rights situation was previously split, MovieWeb notes. Last year, Paramount secured an agreement with the late director's heirs for his original screenplay, while Warner Bros. and its New Line Cinema division held other franchise rights. The merger consolidated everything under one company.

No director is officially attached to the Paramount film yet, though several have publicly expressed interest, including Mike Flanagan and Jane Schoenbrun. A major unanswered question is who will slip on the striped sweater to play Freddy Krueger, as a new actor is expected to take over the role from Robert Englund.