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DC spoke with writer Dave Kajganich (Invasion, Creek) recently, where he revealed a bit more on where the project is headed in terms of story and mentions how this will definitely be a Rated R effort. Here's what he had to say:
"The remake will be set in the mid-1980s and in the present almost equally -- mirroring the twenty-odd-year gap King uses in the book -- and with a *great* deal of care and attention paid to the backstories of all the characters. I think the real twist here is that my pitch to WB -- which they've assured me they're on board for -- is that this will not be PG-13. This will be R. Which means we can really honor the book and engage with the traumas (both the paranormal ones and those they deal with at home and school) that these character endure."
He adds... "I plan to be very protective of the book. The reality, though, is that WB wants to do this as a single film, so I will have to kill a few darlings to make that happen. You have my promise, though, that I will do this with the utmost humility and respect for King's work. He's the King, after all, and I intend to continue to pledge to him my allegiance."