Stephen King's It moves from Warner Bros. to New Line

We've long been awaiting news on a new take on Stephen King's classic horror tale IT, with our last report on the film coming back in February when producer Dan Lin gave a small update on the Cary Fukunaga-helmed project that was originally set up at Warner Brothers. Now THR is reporting that the long road to adapting IT for the big screen has taken another turn as the film is shifting to the studio's New Line division.

That's right: IT will now be developed at The House That Freddy Built.

New Line will now take the lead on horror, bringing the company back to one of its roots. It was once known as the House that Freddy Built due to the long-standing success of the NIGHTMARE ON ELM STREET franchise. Horror is now having a resurgence at the company -- the emphasis is less slashery and more thrills and chills -- as evidenced by last year's hit THE CONJURING.

Warner Bros. has been developing a big-screen take for five years, and in 2012 it hired Cary Fukunaga to direct two films produced by Roy Lee, Dan Lin, Seth Grahame-Smith and David Katzenberg. Now that the project has moved to New Line, could this mean that it is closer to heading in front of the cameras than ever before?

The story follows a group of kids called the Losers Club who defeat a creature called It. Years later, the creature returns and the club, now adults, have to band together again even though they have no memory of the first battle.

The plan is for the first movie to tell the kids’ story and the second movie to focus on the adults.

It will be overseen by the division's Walter Hamada and Dave Neustadter, with Warners vp production Niija Kuykendall helping.

Of course we will be keeping a close eye on IT and will bring you the latest news as we hear it.

Extra Tidbit: Are you excited for a big-screen take on IT?
Source: THR



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