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Stephen King's "It" Movie may be helmed by "Mama" director Andy Muschiatti. Will Poulter who was attached to play the role of Pennywise may no longer star in the upcoming Stephen King-based movie.

Despite losing its director a few months back, the film adaptation of Stephen King's horror piece "It" resumes on taking a step forward. New Line Cinema, which earlier acquired the project from Warner Bros, has found another helmer for the upcoming two-part film. According to the Hollywood Reporter, Andy Muschiatti is already in talks to do the directorial duties.

The filmmaker will sub in for "True Detective" helmer Cary Fukunaga who Entertainemnt Weekly notes to have abandoned the project last May because of budget concerns. Seth Grahame-Smith and David Katzenberg are producing the movie through their KatzSmith banner alongside Dan Lin and Roy Lee. Barbara Muschietti, sister of the newly tapped director, is also slated to produce the film adaptation.

Based on King's massive 1986 novel, "It" was first adapted into a TV series back in 1990. It follows the story of seven children who come together over summer break to destroy a creepy, evil force troubling their town. "It" is a shape-shifting villain who mostly appears in the form of a clown named Pennywise. Set in 1957 in the fictional town of Derry Maine, the entity attracts young children as prey.

"We're the Millers" actor Will Poulter had previously boarded the project to play the titular character, replacing Tim Curry in the original book-to-film adaptation. However, it is seems like the 22 year-old actor is no longer attached to the movie due to scheduling issues. This means that the studio may also have to look for another portrayer.

Meanwhile, Muschiatti is known for his 2013 directorial horror movie "Mama" that he also co-wrote. Featuring Jessica Chastain and Nikolaj Coster-Waldau, the picture scared up nearly $150 million worldwide on a budget of only $15 million.

As for the film adaptation, Jon Silk is executive producing "It". Richard Brener, Walter Hamada and Dave Neustadter are overseeing the project for New Line while Niija Kuykendall is shepherding for Warner Bros.