The latest big rumor surrounding Hollywood remakes connects horror movie director Sam Raimi and the Oscar nominated Chinese film House of Flying Daggers.

I’m afraid so, folks. Industry magazine Production Weekly listed a House of Flying Daggers remake in their December issue with Raimi set to produce alongside Josh Donen (The Quick and the Dead, Drag Me to Hell) and Ryan Carroll (Toolbox Murders).

The original film, released in 2004 and directed by Yimou Zhang, was nominated for an Oscar in 2005 for Achievement in Cinematography under the film’s Director of Photography Xiaoding Zhao. The film was also nominated in the 2005 Golden Globe category for Best Foreign Film. With such awards and a massive fan base behind it, is it really necessary?

The good news is that the movie does not currently show up on the website for Raimi’s production company, Ghost House Pictures, means this might be a nasty rumor after all.

Combine that with the massive list of projects Ghost House Pictures is working on, including two original features: Drag Me to Hell and Burst. Drag Me to Hell, directed by Raimi and co-written by Raimi and his brother Ivan, stars Justin Long and Alison Lohman, who plays a loan officer who is ordered to evict an old woman from her home and finds herself the recipient of a supernatural curse, who turns her life into a living hell. The film’s theatrical release is set for May 29th, 2009.

Burst, directed by Daniel Calparsoro and written by Gary Dauberman (BloodMonkey), is about an isolated town that endures an alien invasion which causes victims to spontaneously combust during a severe snowstorm.

Ghost House Pictures is also remaking a pair of European horror films. Anguish, a Spanish film about two girls who, while watching a scary movie, find themselves in a horror film of their own when their life starts to mirror the picture’s plot, and Danish film Room 205, which will be renamed The Dorm, about a college freshman who moves into a dorm only to find that her room is haunted by sinister forces.