I didn't dig up any info on an upcoming Texas Chainsaw Massacre movie but my search did bring back up the upcoming series on NBC in which Tobe Hooper will be directing an episode:

Fear Itself

In the same vein as the Masters of Horror series although not on cable so probably much more tame . . . should be interesting.

I've heard rumors of Mick Garris, Stuart Gordon, John Carpenter, Brad Anderson directing episodes.

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Yes, it is going to kill me! I have calculated the time, and two seconds is a hazard to my f*@#ing health.