Serious horror film fans beware, fan-favorite B-horror film from the 90s, "I Know What You Did Last Summer," is getting a reboot. Additionally, they've got the director from "Oculus" attached to adapt the new script and Sony is fast tracking it to hopefully be out by 2016.

"What I loved about 'Oculus', being the Stephen King fanatic I am, it was a chance to do this portable Overlook Hotel story. It just seemed like there were so many different ways to go. There was no shortage of stories, because there was no shortage of different people you could put [the mirror] in a room with and have different experiences. That's what excited me," said director Mike Flanagan in a recent interview with We Got This Covered. It is clear that the director knows plenty about horror as his previous film "Oculus" ended up grossing $40 million worldwide.

The somewhat newbie director has been summoned by Sony Pictures to handle the transition from book to script in order to reboot "I Know What You Did Last Summer." Screenrant states, "currently no word on a director - but if history holds true, it will be enterprising and upcoming new talent - or one of the more affordable directors already in the circle with Flanagan and co (if not Flanagan himself)." Working alongside Flanagan will be Jeff Howard to adapt the script. Neal Moritz will also be returning to produce.

There hasn't been any news of casting announced either but one could probably assume that they studio will either opt for new actresses in a hope to get lucky (See Jennifer Lawrence in "The Last House on the Left" remake) or they'll try to get a big name to draw in a decent crowd. Deadline predicts, "the remake is somewhat of a safe bet for Sony - a proven title that can be cast on the cheap and done on a lower budget.

Luckily, Sony will have a little bit of time before they have to seriously worry about casting as the film is not slated to be out until 2016.