From Deadline:

Andy Muschietti, the director behind the surprise horror hit Mama, is in negotiations to direct It, New Line’s adaptation of the Stephen King classic.

Cary Fukunaga was on board to direct the two-part adaptation and helped develop the project for years before parting ways over vision and budget over Memorial Day Weekend.

But the project is a priority for New Line and producers Dan Lin, Roy Lee, Seth Grahame-Smith and David Katzenberg, who hit the trail for a filmmaker without missing a beat.

It was to have started shooting in late June and a new start date remains unclear. Upon closing of Muschietti’s deal, New Line will begin a search for a new writer to tailor a script to Muschietti’s vision. The plan is for the adaptation to still take place over two parts.

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