Slasher flick getting revamp…

‘Oculus’ co-writer and director Mike Flanagan has been tapped to take the helm of Sony’s remake of the 1997 horror flick ‘I Know What You Did Last Summer.’

Loosely based on the 1973 novel of the same name by Lois Duncan, the slasher starred Jennifer Love Hewitt, Sarah Michelle Gellar, Ryan Phillippe and Freddie Prinze Jr. in a story of four friends being stalked by a killer one year after their car hits a stranger whose body they dump in the sea.

The original was directed by Jim Gillespie, from a screenplay by Kevin Williamson and grossed $125 million at worldwide box office. It spawned two sequels, 1998’s ‘I Still Know What You Did Last Summer,’ and the straight-to-DVD release ‘I’ll Always Know What You Did Last Summer’ in 2006.

According to Deadline, the plan is for the film to be shot on a tight budget with release target for 2016.