Jennifer Love Hewitt & Freddie Prinze Jr are returning to the horror franchise that helped launched their careers

Sony Pictures had no comment when reached by PEOPLE, while reps for Hewitt, 43, and Prinze, 46, did not immediately respond to requests for comment from PEOPLE.

co-produced the first two films — as well as the direct-to-video I’ll Always Know What You Did Last Summer (2006), which did not feature any of the original stars — is in talks to return as producer on the new sequel, the outlets report.

The movies followed a group of teenagers who are stalked by a hook-wielding killer one year after they accidentally killed a man on their high-school-graduation night and tried to cover it up.