We had told you back in September of last year that Spyglass Media Group was resurrecting Ghostface and the Scream franchise, and today brings a very, very exciting update.

Discussing Film is reporting that Matt Bettinelli-Olpin and Tyler Gillett, the two directors of last year’s hit horror-comedy Ready or Not, will be directing “Scream 5“!

Bettinelli-Olpin and Gillett make up 2/3s of the filmmaking collective Radio Silence. The group was behind the “10/31/98” segment of our own V/H/S, as well as the “Way Out” and “Way In” segments of our Southbound. The other member of Radio Silence is Chad Villella, who is on board to executive produce the new Scream alongside Kevin Williamson.

Williamson, of course, wrote three of Wes Craven’s four Scream movies.

Discussing Film notes, “Plot details are scarce but sources say it will follow a woman returning to her home town to try to find out who has been committing a series of vicious crimes.”

Will the new film connect to the previous installments or bring us an entirely fresh take on the slasher tale of a masked killer knocking off pretty young folks? We don’t know at this time.

Stay tuned for more.