News of reboots and sequels peaked as trending topics for the day with as many as five being in various stages of development.

Mike Flanagan, the writer/director for "Oculus" recently disclosed that he will write the script for the reboot of the 1997 horror film, "I Know What You Did Last Summer," starring Jennifer Love Hewitt, Sarah Michelle Gellar, Ryan Phillippe and Freddie Prinze Jr. in key roles.

"I Know What You Did Last Summer," is a "teen scream" that centers on a group of close friends who covered up a car accident in which they kill a stranger, causing them to be stalked and murdered by a clocked man named Ben Willis. Sony Pictures reported that Mike Flanagan and Jeff Howard will write the script for the "high priority" film that's set for theater release in 2016. Neal Moritz, who produced the original film, is also set produce the remake.

National Lampoon's "Vacation" will be revamped under the direction of New Line Cinema. And in the resurrection of the classic, Leslie Mann will appear opposite Ed Helms and Christina Applegate. The original 1983 film stars Chevy Chase, and Helms will be appear in the film as the grown-up son of Chase's character, Rusty Griswold. Mann will appear as Helm's sister, Audrey Griswold, played by Dana Barron in the original film. Jonathan Goldstein and John Francis Daley will make directorial debuts with use of their own script. And Chris Hemsworth and Charlie Day are apparently in negotiations to appear in the film as Rusty Griswold's sons. Filming will begin in Louisiana next week.

"Hobbit: The Battle of The Five Armies," the final installment to Peter Jackson's "Hobbit" trilogy has released high resolution promotional images for the highly anticipated film. The beautifully detailed epic banner, which manages to include each key player, can be sliced up into individual posters, but it is most breathtaking when the whole image is absorbed at once. The "tapestry" artwork was inspired the words of JRR Tolkien and the visionary effort of Jackson. The film is set to be released Dec. 17 in the U.S., and the first teaser trailer was released at the San Diego Comic Con on July 26.

"Zoolander," the 2001 film directed by Russell Bates and written by Ben Stiller and Drake Sathers, will have a sequel, according to Will Ferrell, who played Mugatu in the film. Justin Theroux will direct the film that asks Stiller to reprise the title role as Derek Zoolander. Also, Owen Wilson will likely echo his role as Hansel, Zoolander's main competitor. Jonah Hill and supermodel Cara Delevigne are rumored to be linked to the project.

Matt Damon hasn't lost lust for the spy thriller genre just yet, as Damon looks to return to the "Bourne" franchise, which first debuted in the summer of 2002. The fourth Jason Bourne film would reunite star Matt Damon and director Paul Greengrass after the disappointing numbers produced through Jeremy Renner and Tony Gilroy's contribution to the franchise.

Greengrass will write and direct the latest installment about the amnesiac secret agent, which will be the first time that Greengrass takes on the role as writer and director for a film. It's good thing that Greengrass has thrust himself into the project as Damon said numerous times that he had no interest in revisiting the role if Greengrass did not agree to return.

Also, Jeremy Renner has said that Hawkeye may make an appearance in "Captain America 3."