K Period Media, the production company that financed “Manchester by the Sea,” is co-financing the upcoming remake of the horror thriller “Suspiria” with Amazon Studios, Variety has learned exclusively.

The remake of Dario Argento’s 1977 Italian cult classic stars Dakota Johnson as a young ballerina who travels to a prestigious dance academy in Europe, only to discover, following a series of increasingly grisly murders, that it’s a front for something far more sinister and supernatural. Jessica Harper toplined the original movie.

“Suspiria” is directed by Luca Guadagnino (“A Bigger Splash”) and also stars Tilda Swinton, Chloe Moretz, and Mia Goth.

Frenesy Film Company, Mythology Entertainment, First Sun Films, and Memo Films are producing. Amazon Studios has acquired the worldwide distribution rights.

K Period Media is headed by Kimberly Steward, who was one of the five producers nominated for a best picture Academy Award for “Manchester by the Sea,” along with Matt Damon, Chris Moore, Lauren Beck, and Kevin J. Walsh.

The film is a passion project for Guadagnino, who has been at the forefront of getting this remake off the ground. David Kajganich is writing the script from Argento and Daria Nicolodi’s original screenplay, which was based on Thomas De Quincey’s 1845 essay “Suspiria de Profundis” (“Sighs From the Depths”).

The producers on the project are Guadagnino, Kajganich, Brad Fischer, Francesco Melzi d’Eril, Marco Morabito, Gabriele Moratti, William Sherak, and Silvia Venturini Fendi. Mythology’s James Vanderbilt, Paul Deason, Massimiliano Violante, and Carlo Antonelli are exec producing.