'I Know What You Did Last Summer' is Getting a Reboot!

Ready for another round of murders?

"I Know What You Did Last Summer," the 90's horror hit, is slated for a reboot!

Director Mike Flanagan ("Oculus") has been put in charge of the project, which Sony has already fast-tracked for a 2016 release.

The script, which will be adapted fresh from the 1973 novel by Lois Duncan, and will be penned by Flanagan and writing partner Jeff Howard. Neal Moritz, who produced the original (as well as the "Fast and Furious" franchise), will return to that position.

The premise is simple, for those who haven't seen the original: a group of teens accidentally run their car over and kill a man during the summer, and hide the evidence. A year later, the friends are getting picked off one by one by a mysterious killer.

Early talk is that a low-budget venture on the part of Sony will still result in big bucks at the box office, if they choose to go that route. The first grossed over $125 million worldwide, and its 1998 sequel "I Still Know What You Did Last Summer" brought in $84 million and prompted a third "I'll Always Know What You Did Last Summer."

Flanagan is also known for turning low-budget flicks into successes. "Oculus," which had a relatively low budget, grossed over $40 million at the box office despite Flanagan being a fresh writer on the scene.

No call just yet, however, on who will direct.

The original starred your usual 90's triple-named cast staples - Jennifer Love Hewitt, Sarah Michelle Gellar, and Freddie Prinze Jr.

Who would you like to see starring in the reboot?