The Leprechaun Franchise Continues With New Movie From Lionsgate

A new "Leprechaun" movie is officially on the way. The franchise has been around for more than 30 years, with Warwick Davis first bringing the bloodthirsty, mythical figure to life alongside Jennifer Aniston in her feature film debut back in 1993. Now, with the franchise having been dormant for a handful of years, Lionsgate is getting ready to revamp it with an up-and-coming director for a new generation.

According to The Hollywood Reporter, a "Leprechaun" reboot is in the works with Felipe Vargas in the director's chair. Vargas was behind an award-winning short called "Milk Teeth." Mike Van Waes, who wrote Disney's upcoming live-action "Lilo & Stitch," penned the screenplay. It had previously been reported a little over a year ago that Lionsgate was taking pitches for a new entry in the series, and Vargas won out. He'll be joined by Roy Lee ("It") and Miri Yoon ("The Mother") as producers. However, it sounds like Davis will not be returning to the role.

Erin Westerman, president of production for Lionsgate's Motion Picture Group, had this to say in a statement:

"30 years after its debut, this franchise still casts a spell, and we're thrilled to be bringing it back with a new vision. Roy and Miri are two of our most trusted producers, especially with this genre, and we're excited by Felipe's vision for the film as a director. In his hands, this movie should be very scary and a ton of fun."

Apologies to Darren Lynn Bousman ("Saw II"), who has been trying to make his "Leprechaun in the old west movie" for more than 15 years now. For whatever reason, Lionsgate just didn't like his pitch enough to pull the trigger.

The "Leprechaun" franchise has proved to be remarkably enduring. While that is often the case with horror series such as "Friday the 13th" or "Halloween," "Leprechaun" never made a big impact at the box office. However, the original managed to do quite well by keeping the budget incredibly tiny and delivering big numbers on home video. As a result, Davis starred in a total of six films, with a prequel, "Leprechaun: Origins," arriving in 2014. Most recently, we had a direct-to-video reboot in the form of "Leprechaun Returns" in 2018.

What remains to be seen is whether or not Lionsgate will make a theatrical play with the reboot or play it small (and safe) by going with a more VOD/streaming-focused approach. Either way, there is probably enough nostalgia to justify such a venture. Though, if the studio could convince Davis to come back, they could do a legacy sequel of sorts, much like 2018's "Halloween" or last year's "Scream," and those have worked quite well with audiences thus far. We'll see how things shape up as the project rolls forward.

The new "Leprechaun" movie does not currently have a release date.