Freddie Prinze Jr. is thisclose to finalizing his summer plans…

Following the successful reboot of the Scream franchise Sony Pictures is hoping to relaunch its own slasher film franchise, I Know What You Did Last Summer, which starred the 46-year-old half-Puerto Rican actor.

Jennifer Kaytin Robinson has reportedly been tapped to direct a sequel to I Know What You Did Last Summer, with Prinze Jr. and Jennifer Love Hewitt in talks to reprise their roles.

The project is in early development, according to sources, with Neal H. Moritz is in talks to return as producer and Leah McKendrick on board to write the script.

Sony had no comment on the project.

The original film follows four young friends bound by a tragic accident who are reunited when they find themselves being stalked by a hook-wielding maniac in their small seaside town.

The original was a hit and not only led to a sequel but also helped launch the careers of Hewitt, Prinze, Sarah Michelle Gellar and Ryan Phillippe. Plot details for this latest installment are unknown.

While McKendrick is penning the film, the idea for the new film came from Robinson and McKendrick, who blew away studio execs when they pitched this idea for a sequel last fall, especially given the recent success of the Scream franchise.

That film was recently relaunched with original cast members returning, and the idea of bringing back original cast members to draw in old-school fans while also adding fresh faces to relaunch the series was too good for the studio to pass up. Another big factor was the recent success of Robinson’s Netflix film Do Revenge, which was lauded for its throwbacks to late-’90s pics like Cruel Intentions and was something execs knew Robinson could tap into when developing the new story.