In a disappointing decision, Sony has resorted to hiring “Oculus” filmmaker Mike Flanagan to reboot the “I Know What You Did Last Summer” franchise, an individual familiar with the project has told TheWrap.
Flanagan will write and direct the reboot, which Neal Moritz will return to produce under his Original Film banner, along with Flanagan’s producing partner Jeff Howard.
Also read: ‘Oculus’ Review: Siblings Investigate Things That Go Bump in Their Past
While “Oculus” turned a profit earlier this year, the film did not live up to the hype in the eyes of this horror-loving reporter, proving to be a schlocky B-movie predicated on cheap jump-scares. That may be exactly what Sony is looking for, however, as “I Know What You Did Last Summer” is a fairly generic slasher movie that can be made on a budget with a young cast.
The original film starred Jennifer Love Hewitt, Freddie Prinze Jr., Sarah Michelle Gellar and Ryan Phillippe. Jim Gillespie directed from a script by Kevin Williamson, who adapted Lois Duncan’s 1973 novel of the same name.
Also read: ‘Oculus’ Trailer Features Brenton Thwaites, Karen Gillan Battling Haunted Mirror (Video)
Slasher films have seen diminishing returns in recent years, and it would be a surprise if Flanagan’s reboot matches the original’s $125 million worldwide haul. A terrible sequel, “I Still Know What You Did Last Summer,” grossed $40 million in the U.S. on a reported production budget of $65 million.
The news was first reported by Deadline.