After scaring audiences worldwide for $1.35 billion with his last three hits (The Sixth Sense, Unbreakable and Signs), writer-director M Night Shyamalan is getting ready to scare them again.

But, according to trade publication Hollywood Reporter, he promises that his new film, The Woods, will be 'very romantic', and also literary and elegant.

The Woods revolves around a community at the turn of the 19th century, that is scared and agonised by the knowledge that a mythical race of creatures resides in the nearby forest. This is the first time Shyamalan is directing a period film. He will also produce the film for Walt Disney.

Unlike Shyamalan's last three films, the new one does not have big stars such as Bruce Willis or Mel Gibson. Kirsten Dunst, who plays one of the leads, has appeared in such huge hits as the $820 million-grossing Spider-Man opposite Tobey Maguire and is also cast in its sequel. But she does not command even half the $20 million fee that Gibson and Willis usually receive per film. But her role will be crucial for the new film for Shyamalan asserts that he was keen from the start to have a strong female role.

The new film also stars Ashton Kutcher and Joaquin Phoenix who was seen in a key role in Signs, Hollywood Reporter wrote.

Shyamalan has not revealed the budget but, given his reputation of being one of the most frugal directors in Hollywood, the film, which is expected to be released next summer, could be made for $50 million. Trade sources say he could get at least $10 million for writing and directing the movie.

Disney was the distributor of his three hits, as well as Wide Awake, the little seen 1998 sentimental comedy.

Shyamalan, who has made all but his first film, Praying With Anger, which was shot in Tamil Nadu, in his home state of Pennsylvania, has also set his new film there.