Universal is developing a reboot of Phantom of the Opera, after 16 years from the Schumacher's adaptation of Lloyd Webber's classic.

The plot will remain the same - the tormented love story between Phantom and the soprano Christine - but the setting of the story will be updated from 19th century Paris to present-day New York, reports the website We got this covered

The script is currently being worked on by Jay Basu (The Girl in the Spider’s Web), and Chris Morgan and Alex Kurtzman named as producers.

We will keep you updated.