Producer Roy Lee has confirmed that the latest film adaptation of Stephen King's It will most likely be beginning production later this year, and each installment two-part series is expected to receive an R-rating. You can check out an update from Lee via Collider below.

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“It will hopefully be shooting later this year. We just got theCalifornia tax credit… Gary Doberman wrote the most recent draft working with Andy Muscetti, so it’s being envisioned as two movies.”

“It is very close to the source material in one way but very different if you look at it as a literary piece of work… We’re taking it and making the movie from the point of view of the kids, and then making another movie from the point of view of the adults, that could potentially then be cut together like the novel. But it’s gonna be a really fun way of making this movie.”