It has been a long road for the re-adaptation of Stephen King’s IT, which recently saw its first shred of hope back in 2013 when True Detective‘s Cary Fukunaga took the helm. Now, in a rare turn of events, Warner Bros.—who has been developing the project for 5 years—has moved the project to their New Line division. According to THR, insiders say the siblings are drawing clearer distinctions about the types of movies they make. This is big news not just for IT but for horror in general.

New Line is now poised to return to their roots as they will take the lead on horror. The studio was once known as the “House that Freddy Built” because of the massive amount of success that the Nightmare on Elm Street franchise brought to the studio. With an emphasis on more thrills and chills, the studio is making a comeback in the horror genre.

The story follows a group of kids called the Losers Club that encounter a creature called It, which preys on children and whose favorite form is that of a sadistic clown called Pennywise. When the creature resurfaces, the kids are called upon to regroup again, this time as adults, even though they have no memory of the first battle.

Right now the plan is to make two films with the first movie telling the kids’ story and the second movie focusing on the adults. Fukunaga is no doubt going to bring a dark and gritty vision to King’s classic tale, which is exactly what it needs. And better yet, the studio recognizes that this story needs to be split up into multiple films to truly work the way that King intended it to. So I think it’s safe to say that Fukunaga’s adaptation of IT has potential to be one for the ages. I’m excited to see who they cast as Pennywise and how much different he’ll look from the 1990 miniseries version that was brilliantly portrayed by Tim Curry.