James Wan is in early talks to direct a new remake of the classic 1954 horror film, 'Creature From the Black Lagoon,' for Universal Pictures and his production company, Atomic Monster. This modernized retelling aims to retain the visceral horror of the original while appealing to contemporary audiences, a departure from previous attempts to revive the franchise. Wan's involvement marks his first directorial project following the merger of Atomic Monster with Blumhouse, and he is set to produce the film alongside executive producers Michael Clear and Judson Scott. The film will be overseen by Universal's Jay Polidoro, with a writer currently being sought to develop the script. Wan's track record in the horror genre, including the 'Saw' and 'Conjuring' franchises, positions him well to reimagine this iconic monster story. The original film, which introduced the Gill-Man, has been a subject of interest for remakes since the 1980s but has yet to materialize successfully.