The good news: Richard Matheson is involved.

Jack Arnold's 1957 The Incredible Shrinking Man was one of the movies that imprinted themselves on me as a kid. The scene where little Scott Carey fights a tarantual gave me nightmares for decades, and is still responsible for a decent bit of my arachnophobia. It's a great movie, and the bleakness of the ending is fucking amazing. 

Of course it's getting remade. Universal was trying for years and years (they had an Eddie Murphy comedy version in the works for a good long while), but now they've lost the rights and MGM has them. They're working with Richard Matheson, whose novel The Shrinking Man, was the basis for the original movie, on a script. Matheson's really old, though, so his son Richard Matheson Jr is pitching in as well.

This version won't be a comedy, but who knows what it will end up being. MGM is the biggest recycler of the moment, and I'm not convinced they have actual visions for any of their stuff other than "Let's capitalize on this IP." Having the Mathesons involved is certainly a good start, but I've been writing about movies long enough to know that these two could be off the film in a matter of weeks and Akiva Goldsman could be brought in. 

In the meantime, the new Matheson script will junk radiation and pesticides, the original Shrinking Man's origins, and go for nanotech. Richard the Senior says the new film is “an existential action movie... My original story was a metaphor for how man’s place in the world was diminishing. That still holds today, where all these advancements that are going to save us will be our undoing.”

I also know that there's no guarantee this happens. MGM is just announcing remake after remake, but very few have gone anywhere in their post-financial meltdown period. This could be another movie that gets talked about a bunch on blogs and then never happens. 

One thing to note: they may actually push this through quickly in an attempt to compete with/ride the tail of Marvel's Ant-Man movie. That's the X-factor in this whole thing.