The $400 million project inspired by the 1973 horror classic will have David Gordon Green as its writer and director, and Jason Blum of Blumhouse serving as its producer.

AceShowbiz - Leslie Odom Jr. and original "The Exorcist" star Ellen Burstyn will headline a $400 million (£290 million) trilogy inspired by the 1973 horror classic.

It will mark the first time that Burstyn, who received an Oscar nomination for her role in the 1973 box office sensation, will return to the Universal Studios franchise.

Odom Jr., an Oscar nominee himself, for "One Night in Miami...", will play the father of a possessed child who turns to Burstyn's character for help.

David Gordon Green, who helmed the 2018 "Halloween (2018)" sequel, will write and direct. Blumhouse founder Jason Blum, whose credits include horror hits "The Conjuring", "Insidious" and "Get Out", will produce.

Of the project, Blum said in a statement, "Blumhouse has always experienced incredible partnership from the team at Universal, and I'm grateful to Donna Langley and Jimmy Horowitz for believing in the vision of David's film and having the foresight to be flexible with distribution, so the team feels top notch support through the lifeline of the film."

"They're committed to theatrical exhibition and will also [be] serving streaming viewers well by bringing an exciting franchise like the 'Exorcist' to Peacock too," he added. "I'm grateful to be working with David Robinson and the great team at Morgan Creek on this iconic franchise."

According to The New York Times, studio officials will officially make the big announcement this week (ends July 30). The first film in the new trilogy is expected to hit theaters in late 2023. The second and third films may debut on the company's streaming site Peacock, per reports from sources.

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