Variety is reporting that Jackie Earle Haley has signed on to star as iconic killer Freddy Krueger in New Line and Platinum Dunes’ relaunch of A Nightmare on Elm Street.

New Line decided last year to relaunch the movie series centered on the killer, who haunts the dreams of teenagers and kills them in their sleep. Krueger was played by Robert Englund in the 1984 original, spawning nine films and two TV series in what was New Line’s most lucrative franchise until The Lord of the Rings.

The relaunch comes on the heels of New Line and Platinum Dunes’ rebirth of another horror franchise, Friday the 13th, which has grossed $65 million domestically since its launch in February.

Haley starred in Watchmen as Rorshach and will next be seen in Shutter Island, directed by Martin Scorsese.

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