The "Call Me by Your Name" famed director Luca Guadagnino is close to finalising a deal with Lionsgate to direct a fresh adaptation of Bret Easton Ellis' novel "American Psycho".

This movie, penned by screenwriter Scott Z Burns, will not be a remake of the 2000 version but rather a fresh adaptation of Ellis' original novel.

The initial film adaptation, featuring Christian Bale, was directed by Mary Harron, who adapted it from a screenplay co-written by herself and Guinevere Turner.

Frenesy Films will produce the Lionsgate film, with Sam Pressman, son of Edward R Pressman—who produced the original adaptation—serving as executive producer through his company, Pressman Film.

"We are thrilled to add another elite filmmaker to our upcoming slate. Luca is a brilliant artiste, and the perfect visionary to create a whole new interpretation of this potent and classic IP," stated Adam Fogelson, chair of Lionsgate Motion Picture Group.

Guadagnino's latest film, "Challengers", featuring Zendaya, Mike Faist, and Josh O'Connor, debuted at the top of the box office. His upcoming project, "Queer", starring Daniel Craig and Drew Starkey, is set to be released by A24 on November 27.

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Screenwriter Burns is the creator of the recent Apple TV+ limited series "Extrapolations". His screenwriting credits for films include "The Report", "Side Effects", and "The Bourne Ultimatum".