Michael Bay To Remake "A Nightmare On Elm Street"?

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Okay, I know that Hollywood is notorius for remaking movies from years before to give them a fresh look or re-invent the story. Certainly, the horror genre has seen it's share of remakes. John Carpenter's "The Fog" and "Halloween" both got facelifts in recent years, as did Alfred Hitchcock's "Pyscho" and a string of other slasher films: Prom Night, The Hills Have Eyes and The Texas Chainsaw Massacre to name just a few. Now, however, Michael Bay, who seems to have a thing for reinventing famous franchises on the big screen (think Transformers) is attempting to reinvent "A Nightmare On Elm Street". Now while I would certainly welcome another "Nightmare" film, I think that retelling the story is pointless. Wes Craven's original Elm Street is a classic and is only barely 25 years old (actually not until next year). While it was admittedly done on a limited budget, the movie is still a classic and does not need to be remade. It is my understanding that "Friday the 13th" is getting similar treatment...expect that one out in theaters next year. I think that Hollywood needs to create some new horror monsters and leave Freddy and Jason alone. I don't know what the hopes here are, but to have Freddy Krueger make his return played by anyone other than Robert Englund is just plain wrong....as is re-making Nightmare on Elm Street to begin with.