Warner Bros. has been vocally actively working on a reboot of Stephen King’s It for the last five years, but for whatever reason the studio has yet to set a production start date or even tease the possibility of a potential release plan. Today we learned a bit of the reason why, or at least an excuse for why it’s taking so long, and hopefully it’s the kind of news that symbolizes a legitimate effort to get this long-awaited adaptation off the ground.

The Hollywood Reporter has a new exclusive revealing that It has been moved from Warner Bros. to the studio’s New Line division. An insider close to the deal says the news comes as New Line is preparing to move its offices to the Warner Bros. lot, and that it also signals the company’s effort to draw lines of distinction between the types of films made by each studio. In New Line’s case this likely means more horror features from the studio that gave us all a Nightmare on Elm Street more than three decades ago.

While we wait for news regarding production and casting plans for It, we can confirm that the studio is planning to release the horror tale as two separate films. The first will deal with the children who initially encounter and defeat Pennywise, with the second covering Pennywise’s return and the children–now adults–joining forces a second time to stop him. Cary Fukunaga, who recently gave us HBO’s True Detective, will direct.

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James Shotwell

James Shotwell is the founder of Under The Gun Review. He loves writing about music and movies almost as much as he loves his two fat cats. He's also the co-founder of Antique Records and the Marketing Coordinator for Haulix. You should probably follow him on Twitter.

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