Stephen King's IT movie
Pennywise the clown in IT movieYouTube Screenshot

The terrifying possessed doll that terrorized millennials as kids is now all set to make a comeback for the new generation. MGM is reportedly developing a remake of 'Child's Play' with the producers behind Stephen King's 'It.'

According to The Hollywood Reporter, MGM has started working on the new film featuring the possessed doll Chucky. Although the film's plot or synopsis is yet to be revealed, the remake is speculated to follow the story of young kids as they deal with a robotic Chucky.

Child's Play, the 1988 horror movie was directed by Tom Holland. It told the story of a popular toy doll named Chucky, who was possessed by the soul of an infamous serial killer. The possessed doll terrorizes a single mom (played by Catherine Hicks) and her son (played by Alex Vincent).

The film grossed more than $40 million against a production budget of $9 million. The film's horror and the special effects were appreciated by the fans and critics alike.

Child's Play bluray
blu-ray cover of the 1988 movie, Child's Play.Child's Play Facebook

Soon after it's release, Child's Play received a cult following. The success of the film was followed by several other films in the franchise like Child's Play 2 (1990), Child's Play 3 (1991), and Bride of Chucky (1998).

The most recent in the franchise was Cult of Chuky (2017), which received mixed reviews from the fans.

In addition to the films, a new TV series of the same name is also under production. The TV series would center the red-headed killer doll Chucky. Co-writer Mancini announced the series on his personal Twitter account.

It is currently unclear whether the new film in the series will be a homage to the previous horror film from the franchise or the team will come up with some different plot. But there are rumors that the new film would involve a "technologically advanced" doll.

The potential remake is produced by 'It' movie producers David Katzenberg and Seth Grahame-Smith. Given the recent box-office success of the movie adaptation of Stephen King's horror novel, it can be speculated that the latest film in the Child's Play franchise might also rule the box-office.

The production of the film begins in September in Vancouver and the project will be helmed by Lars Klevberg. The Norwegian director is acclaimed for directing 2017 horror film Polaroid. As of now, the upcoming Chucky film has no release date.