BUG: I have to ask, what would it take for you to do another ELM STREET movie?So obviously it's not a done deal and NOTHING is set in stone, but just the simple idea of Craven returning for "just one more" brings a huge smile to this fanboy's face. The three films that Craven has been involved with (A Nightmare on Elm Street, A Nightmare on Elm Street 3: Dream Warriors, Wes Craven's New Nightmare) are easily the strongest of the series. To fans, they're known as "The Nancy Trilogy".
WC: It’s funny. I fantasize about doing that. First of all it would take Warner Brothers to approach me, which they haven’t. I would only do it if the script they had or that I could come up with would be perfect. It would have to make artistic sense to me. I wouldn’t want to go out and do a remake or anything like that. I would use Robert Englund though.
Hey, we can dream...
Source: Ain't It Cool News