The South China Morning Post reported Wednesday that Japan's Hideo Nakata will direct the film, to be produced by Tom Cruise (Zellweger's "Jerry Maguire" co-star) and Paula Wagner.
Esther Koo, a spokeswoman for Applause Pictures, said the remake rights to "The Eye" have been sold to Paramount Pictures and that Applause founder, director Peter Chan, will be the executive producer of the new movie. Koo had no other details.
"The Eye," directed by twin brothers Oxide and Danny Pang, tells the story of a young woman who sees the visions of the dead woman whose corneas she inherited in a transplant.
Nakata directed the 1998 horror film "Ringu," which was remade as "The Ring." He also directed "The Ring Two."