Craven took to Twitter to set the record straight--sharing the following: "SCREAM 4 - LA Times has it wrong. I'm still in talks but nothing has been finalized."
This doesn't mean Craven won't wind up directing the fourth installment in the franchise--I'd be amazed if he didn't--but it's not a done deal yet. We have no idea what the hold up is, but the cynics amongst us are speculating that this might be another sign that The Weinstein Company is in dire financial straits. If they can't lock up Craven, things could be very bad indeed.
Keep it here for the latest on the Craven-Scream 4 saga.