A reboot of yet another franchise we’ve all managed rather well without is in the works, and this time it’s the 1997 horror movie I Know What You Did Last Summer. The original earned over $125 million worldwide and spawned a sequel, I Still Know What You Did Last Summer, which ended up grossing $84 million.

Both of those starred Jennifer Love Hewitt, though there’s currently no word on the new cast.

This new take on I Know What You Did Last Summer will be produced and co-written by Oculus director Mike Flanagan, and he will be joined by writing partner Jeff Howard. Neal Moritz will also produce (just as he did with the original which was based on the 1973 Lois Duncan novel).

Believe it or not, 17 years have passed since the release of the first movie and if Sony can make this on a fairly low budget, it stands every chance of being a huge success for them…it’s not like it can be much worse than the original anyway! There’s also a level of recognisability which should help bring in older viewers.

The original slasher film focused on four friends who were hunted by a murderer after they covered up an accident in which someone was killed. This isn’t the only Lois Duncan book in the works as Lionsgate are currently developing Down a Dark Hall. The fact that Flanagan is only writing means that they don’t yet have a director, so it should be very interesting to see how this one comes together. What do you think?