Paramount Moves Ahead With New Elm Street Film

Paramount Pictures is moving ahead with a new A Nightmare on Elm Street film, while Warner Bros. is no longer pursuing its competing project, according to reporting attributed to Dread Central. The two projects had been in development separately before the studios came under common ownership through Paramount’s acquisition of Warner Bros. Discovery, completed October 6, 2026.

The status update has not been confirmed in a direct announcement from either studio in the reports. It identifies Warner Bros.’ proposed film, which had Lee Cronin attached to write and direct, as no longer moving forward. Paramount’s project remains in development through its Paramount Primal label.

Paramount’s film is based on an original screenplay by Wes Craven, creator of the franchise. In July 2026, Paramount made a deal with Craven’s estate concerning rights to develop a film based on that screenplay. Warner Bros. had retained international rights to the franchise, while Paramount’s agreement covered U.S. rights to develop a feature film, according to the reports.

Paramount told CBR that its project is set in the world of A Nightmare on Elm Street and is not a remake. The distinction leaves open how...