Reeves is in negotiations with the studio to direct the latest iteration of Rod Serling's creepy television series.
The movie's not yet greenlit, so it's still officially in the development project. But it has the significant backing of Appian Way's Leonardo DiCaprio and Jennifer Davisson Killoran, who are producing.
Jason Rothenberg wrote the script.
Reeves has a way with weird, and proved it in the creepy monster flick "Cloverfield" and in American adaptation of "Let Me In," about a social misfit, bullied in school, who befriends a female vampire.
He wrote and directed the 1996 Miramax film "The Pallbearer," about a guy who becomes a pallbearer for a high school classmate he can't quite remember. The same weekend, the guy's high school crush comes back to town.
The movie starred David Schwimmer and Gwyneth Paltrow.
Deadline first reported the news.