If you were holding out hope that director James Wan would return for a new Saw movie after he got done with Fast & Furious 7, we're sorry to tell you it's not happening. Not yet anyway. The creator of that infamous horror franchise, Wan will instead take on a sequel to his 2013 horror hit with The Conjuring 2.

James Wan has signed a two-part deal with New Line Cinema. Production is set to begin on The Conjuring 2 next summer. He also made a first-look producing deal with the studio. The reason The Conjuring 2 was moved to 2016 was so that the director would have time to promote Fast & Furious 7, which he recently finished and will be in theaters April 3, 2015. That sequel was delayed from its summer 2014 release date following the unexpected death of franchise star Paul Walker.

James Wan is set to develop and produce modestly budgeted sci-fi, horror and comedy movies for New Line in the next couple of years. The deal comes on the heals of Annabelle's success for the studio. The Conjuring spinoff has pulled in more than $37 million from a $6 million budget. James Wan is currently the only director New Line has a deal with. He also has an option out to direct more Fast & Furious movies for Universal, with that studio allowing Wan the time needed to complete The Conjuring 2. Though, it has not been confirmed that Universal will invite him back to direct another installment of their hugely popular action franchise.

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New Line president/COO Toby Emmerich had this to say about the deal:

"We had a great experience with James on The Conjuring, and we give him a lot of credit for that movie working so well. He worked on the screenplay and came to the table with very inventive things that were not in the script and cast it fantastically well. Add to that his work in producing Annabelle, and he is one of the masters of the genre and we're happy to have him. You go through the list of possible directors of The Conjuring sequel, and his is the name you stop at, which is why we tried so hard to make this work."

About The Conjuring 2, James Wan reveals:

"It was during the editing of Fast & Furious 7 that my brain started sparking ideas for The Conjuring sequel. Taking a break from horror has allowed me to be creatively rejuvenated. I'm excited to tell the story of the next case-file of Ed & Lorraine Warren and expand on this world we've created."
B. Alan Orange at Movieweb
B. Alan Orange