Oscar-winning director Guillermo Del Toro is set to direct the reboot of 1947’s Nightmare Alley. The highly-anticipated and upcoming film will star another Oscar winner, veteran actor Leonardo DiCaprio.

According to HN Entertainment, the film’s location will be in Toronto, Ontario Canada. Production will start on September 30 this year and is expected to end on January 28, 2019.

There’s isn’t a lot of information about how much Del Toro will divert from the original 1947 movie starring Tyrone Power. We can only guess that he will maintain the sinister and thrilling tones of the first movie while giving it a compelling retelling.

Fox’s Nightmare Alley from 1947 features the following synopsis:

Roustabout Stanton Carlisle (Tyrone Power) joins a traveling carny and unsuccessfully schemes to figure out the mind-reading act of Mademoiselle Zeena (Joan Blondell) and her alcoholic husband, Pete (Ian Keith). But when Pete dies, Zeena is forced to take on Stanton as a partner, and he quickly proves more gifted than his predecessor. Ambitious to a fault, Carlisle abandons Zeena and the carny to reinvent himself as “The Great Stanton,” wowing high-class audiences in a Chicago hotel.

At the 2018 Academy Awards, Del Toro won best director and received the best picture award for his fantasy romance film ‘The Shape of Water’. We can imagine a perfect pairing is in the works with DiCaprio in the picture. DiCaprio won the 2016 Academy Award for his performance as Hugh Glass in The Revenant. DiCaprio’s most recent project is with Brad Pitt and Margot Robbie in the film “Once Upon a Time…In Hollywood” by Quentin Tarantino.