We've already seen famous cinematic boogeymen like Leatherface, Freddy Krueger, Michael Myers, and Jason Vorhees resurrected for the 21st century; hence, it's not so surprising that one of the more infamous (and goofiest) B-movie monsters conceived within the last few decades will be returning to the big screen, in a reboot of the Leprechaun franchise.
Lionsgate and WWE Studios are collaborating on a revamping of the Leprechaun horror-comedy property. The series previously gave rise to two theatrically-released films and four direct-to-video installments, starring longtime fan-favorite Warwick Davis (an alum of the Star Wars and Harry Potter franchises, and the star of Willow) as an evil killer... well, you-know-what, who murders anyone foolish enough to steal his gold.
Now, let's be honest: no matter who Lionsgate ultimately attaches to write, direct, and star in what (according to Variety) the studio describes as "a modern-day spin" on the Leprechaun franchise, they're not exactly going to be treading on sacred ground. Even the original 1993 film (which helped launch Jennifer Aniston's career) is generally considered to be a guilty pleasure schlockfest at best - not to mention the "diminished returns" on the subsequent sequels, which feature such memorably silly titles as Leprechaun 4: In Space and Leprechaun: Back 2 tha Hood. Suffice it to say, this property qualifies as fair game under Screen Rant's Top 5 Rules for Movie Remakes.
Similarly, whereas such slasher franchises as Friday the 13th, Nightmare on Elm Street, and even Child's Play started off as relatively serious (before descending into the realm of usually intentional self-parody with later installments), Leprechaun has been tongue-in-cheek since its inception. For that reason, you should probably expect this particular reboot to not go for the now-customary grittier feel or more polished style - but, instead, to resemble a cheap direct-to-DVD feature with a mix of talent (or lack thereof...) similar to the Piranha movies.
The Leprechaun reboot is already slated for a (currently, unspecified) 2013 theatrical release date, so look for this project to come together quickly over the upcoming months.