'I Know What You Did Last Summer' is going to remade.

The 1997 horror movie focused on a group of teenagers who hit a man with their car and dispose of his body, before being faced by vengeful killer a year later.

The film starred Jennifer Love Hewitt, Ryan Phillippe and Sarah Michelle Gellar and her future husband Freddie Prinze, Jr. and was a massive box office success earning over $125 million and spawning the sequel 'I Still Know What You Did Last Summer'.

Sony Pictures has now picked up the rights to remake the movie and the company has hired 'Oculus' writer-and-director Mike Flanagan to pen the script and co-produce the revenge slasher flick with 'Fast & Furious' producer Neal Moritz, according to Deadline.

Sony are looking for a director to helm the project and want it in cinemas in 2016. No casting information is available yet.

The original movie was based on the 1973 novel of the same name by Lois Duncan and incorporates elements of the urban legend 'The Hook' about an escaped serial killer who has a hook for a hand.