According to Deadline, the Duffer Brothers have formed Upside Down Pictures. The Duffer Brothers have several plans in the works for Upside Down Pictures, including a live action series of Death Note that will be available on Netflix.
Death Note is originally a Japanese manga and anime written by Tsugumi Ohba and illustrated by Takeshi Obata. The series follows a teenager, Light Yagami who discovers a notebook, the “Death Note.” The book grants the user the ability to kill anyone whose name is written in its pages. Light becomes obsessed with this power, while simultaneously avoiding law enforcements investigation into the mysterious deaths.
There have been several live action adaptions of Death Note, both in Japanese and one that Netflix made in 2017. Netflix’s 2017 Death Note starred Nat Wolff as Light Yagami, and LaKeith Stanfield as L. However, the Duffers’ version will be completely new.