The founders of Stampede Entertainment, the team behind Tremors, say they’ve reclaimed the rights to the cult monster movie from Universal and are planning to expand the franchise.

“We are discussing a return-to-Perfection sequel,” they said in a blog post, referencing the small desert town in Nevada their 1990 creature feature is located, “and one or two more outlandish ideas featuring graboids in new settings.”

The idea for the next movie will come straight from Stampede Entertainment partners Ron Underwood, who directed the original, and writers Brent Maddock and S.S. Wilson, both of whom took turns directing sequels to the first. They said in the blog posted on Wednesday that they “aren’t reading outside ideas” and that the next film “will not be a remake [of] the first movie with a new cast.”

Stampede Entertainment wasn’t a part of the three latest installments to the franchise, which was produced...