You ready for the best news you’ll hear all month?

Fresh off his Best Director and Best Picture wins at the Oscars for The Shape of Water, Guillermo del Toro is one of the most in-demand filmmakers in Hollywood, and his next big move has been made. Fox Searchlight Pictures has announced today that they’ve inked a deal that’ll see Del Toro create a new genre label for the company!

The press release explains, “Fox Searchlight Pictures Presidents Stephen Gilula and Nancy Utley announced today that Fox Searchlight Pictures has signed a deal with Academy Award® winning director Guillermo del Toro that covers live action feature film projects to be written, produced and/or directed by del Toro. Fox Searchlight is also creating a new, soon to be named, label which will serve as a home for projects in the horror, sci-fi and fantasy genres, including those produced and curated by del Toro. Films will be financed, marketed and distributed by Fox Searchlight Pictures.”

“For the longest time, I’ve hoped to find an environment in which I can distribute, nurture and produce new voices in smart, inventive genre films and channel my own. In Fox Searchlight, I’ve found a real home for live action production — a partnership based on hard work, understanding of each other and, above all, faith. After the wonderful experience I had with Fox Searchlight on ‘The Shape of Water,’ I am honored to have the opportunity to continue the relationship. I am more than grateful to Nancy, Steve, David and Matthew for their trust in me and for joining me on this adventure,” said del Toro.

The first film in the pipeline will be Antlers, a story about an elementary school teacher who takes in a troubled student that harbors a mysterious family secret with deadly consequences. The film will be directed by Scott Cooper with a script written by Nick Antosca & Henry Chaisson, based on the short story The Quiet Boy by Nick Antosca. Guillermo Del Toro, David Goyer, and J. Miles Dale will produce, with Kevin Turen serving as executive producer.