Hollywood Reporter:

MGM is remaking Child’s Play, the 1980s horror movie centering on a toy doll possessed by the soul of a serial killer, with It producers David Katzenberg and Seth Grahame-Smith. 

MGM is fast-tracking the project, which has Lars Klevberg, the Norwegian filmmaker behind the horror movie Polaroid, in the director’s chair as it heads toward a production start in Vancouver this September.

Last I had heard, the past few direct-to-video installments had been pretty good, but evidently the need to reboot was strong.