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Freddy Krueger, Lindsay Lohan

Ramey

Lindsay Lohan's life isn't that much of a Nightmare after all.

Although it was reported earlier today that LiLo has signed on to star in the remake of A Nightmare on Elm Street, her rep insists she won't be sharing screen time with Freddy Krueger.

"It's not true," Lohan's rep tells me. "We don't know where this all came from, but there's nothing there."

A rep for the studio, New Line, also confirms Lohan has not been cast.

Already on board the horror flick is über-producer Michael Bay. Samuel Bayer, the famed music-video director responsible for Nirvana's "Smells Like Teen Spirit" and Blind Melon's "No Rain," among others, will make his feature directorial debut on the project.

If a leading lady is signed soon, cameras could roll on the reimagining of Wes Craven's horror show as early as this spring. But producers have yet to cast their Freddy Krueger, and have made it clear the villain's originator, Robert Englund, will not reprise the character.

Which probably explains why there's no tentative release date set for the film, though this year marks the original dream-haunters' 25th anniversary.

With the Lindsay rumors DOA, we gotta ask: Who should be the female lead in the new Elm Street? Let the suggestions begin.

—Additional reporting by Gina Serpe