Actor Robert Englund who played Freddy Krueger in the film ''A Nightmare on Elm Street' pictured in Los Angeles, California October 15, 2006. [Agencies]

Freddy's back. Again.

New Line is in talks with horror production company Platinum Dunes to re-launch the "Nightmare on Elm Street" movie series, the franchise that helped establish the studio.

The first "Nightmare" movie was made by Wes Craven and released in 1984. The runaway success of the film spawned a slew of sequels and created one of the most popular villains in screen history, Freddy Krueger, played by Robert Englund.

The film centered on Krueger, a serial child killer murdered by angry parents, who returns with a burned face and a razor glove to terrorize teens in their dreams.

A screenwriter will be hired once the Writers Guild of America strike ends. The producers -- Michael Bay, Brad Fuller and Andrew Form -- are hoping to focus part of the new movie on Krueger's backstory.

Platinum Dunes is prepping another re-launch, "Friday the 13th," which will be directed by Marcus Nispel for New Line, for whom it remade "The Texas Chainsaw Massacre" and its sequel.

The company is remaking "Near Dark" for Rogue and "The Birds" for Universal. It is also prepping a non-remake project, an untitled David Goyer thriller.