There have been rumors of a sequel or prequel to the 1982 classic and groundbreaking Sci-Fi film "Blade Runner" for decades, but the reports never really amounted to much.  That changed today when Alcon Entertainment, which now owns the big screen rights to the property, announced that the film's original director, Ridley Scott, had agreed to come on board to both direct and produce a follow up.

In a statement released by Alcon, company co-founders Broderick Johnson and Andrew Kosove said, “It would be a gross understatement to say that we are elated Ridley Scott will shepherd this iconic story into a new, exciting direction. We are huge fans of Ridley’s and of the original ‘Blade Runner.’ This is once in a lifetime project for us.”

This is a major endeavor for the production company which traditionally releases its projects through Warner Bros.  Alcon is best known for "The Blind Side," "The Book of Eli," The Sisterhood of the Traveling Pants" and the upcoming family flick "The Dolphin Tale."

Alcon specifically noted it would not reveal whether this new project was a sequel or a prequel. 

The original "Blade Runner" is one of the most influential films of the 20th Century.  It was selected for United States National Film Registry by the Library of Congress in 1993 as being "culturally, historically, or aesthetically significant." In 2007, it was named the 2nd most visually influential film of all time by the Visual Effects Society.

Bud Yorkin and Cynthia Sykes will co-produce the project alongside Scott.

The three-time Oscar nominated filmmaker is currently in production on a loose prequel to another one of his classic films, "Alien."  In fact, 20th Century Fox's "Prometheus" is Scott's first turn at Sci-Fi since releasing "Blade Runner" 29 years ago.

No word on whether Harrison Ford will reprise his role as Rick Deckard.