And 48 Hrs. director Walter Hill is going to be the one remaking it.
Having just finished work with Sylvester Stallone's veins in Bullet to the Head, Hill is now teaming with The Aldrich Company to write and direct a new version of the 1962 classic What Ever Happened To Baby Jane?, which starred Joan Crawford as a Hollywood star who, after an ambiguous car accident, is basically held captive and tortured by her jealous sister (an Oscar-nominated performance by a horrifying-looking Bette Davis). Sort of a gothic, one-sided Step Brothers, I believe is how AFI describes it.
Discussing the project, Hill expressed his desire to "make a modern film without modernizing the period" such that it would "resonate the golden age of Hollywood" and probably not involve the internet, however tempting it will surely be to make Baby Jane a former YouTube sensation. Anyway, despite still wanting to remake What Ever Happened to Baby Jane? for some reason, Hill does at least seem to understand what it is that's made it such an enduring thriller, as the director noted, "The two equal leads demand great performers -- that is a given." Which sounds to me like as good excuse as any to get Eddie Murphy and Nick Nolte back together.