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But both movies engendered strong cult followings and there were rumblings of a third installment. Last year del Toro, Dark Horse Entertainment, Levin and Gordon, the latter who controls the rights, explored their options. However, the budget was a stumbling block, with del Toro wanting a bigger canvas for his vision. In the end, the producers decided a reboot and relaunch was the more feasible route.

http://www.hollywoodreporter.com/heat-vision/hellboy-reboot-works-stranger-things-star-david-harbour-1001462