Last year, Variety reported that Guillermo del Toro would be producing Nightmare Alley with Fox Searchlight.
Nightmare Alley is a remake of a film that originally starred Tyrone Power as an ambitious young con-man who hooks up with a female psychiatrist who is even more corrupt than he is. At first, they enjoy success fleecing people with their mentalist act, but then she turns the table on him, out-manipulating the manipulator. It was released in 1947.
At the time, del Toro was writing the script with Kim Morgan. Now, he tells the site that the project is in a “very, very advanced” stage and that a third project, which he didn’t write, and whose details he can’t disclose at present is “very close to happening.”
Let’s hope for a director announcement soon.