According to Media Bistro, screenwriter Chase Palmer (Dune) will help pen the script. Also helping on the project as part of the production team will be Seth Grahame-Smith (Zombies). There is no word on the cast yet, as this Warner Brothers project is just getting started. It should also be noted that this is sort of a movie remake, since the story was told on screen before, although not on the big screen.
The Stephen King book was previously made into an ABC miniseries, which ran over three hours in length, and scared the daylights out of many people while also bringing in some great ratings for the network. Among the cast in that series were John Ritter, Annette O'Toole, and Richard Thomas. Don't forget Tim Curry, who put in a chilling performance as "Pennywise" the killer clown who is the villainous star of the novel. The original It movie trailer for ABC can be seen in the YouTube video below.
This announcement is likely to be good news for Stephen King and horror movie fans as they will finally get a modern movie version of one of the most popular books from his collection. Most likely the first film would follow the story of the children as they confront and try to destroy the evil clown. Part two would probably deal with the aftermath in town years later. With the way reboots and remakes have been doing justice these days, as well as the special effects available, it should be possible to truly make King's It as terrifying as the book.
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