Movie ghoul Freddie Krueger is set for a chilling comeback on the big screen in a new A Nightmare On Elm Street horror franchise.

Transformers director Michael Bay is one of the big names behind the planned New Line movies, based on the film series created by horror mastermind Wes Craven.

Bay and his production partners are also planning to take over the Friday The 13th horror film franchise, in addition to developing a remake of Alfred Hitchcock's The Birds, starring Naomi Watts.

(This news article provided by World Entertainment News Network)