IGN recently updated their article covering the recent casting of Ian McShane as Professor Broom in the new Hellboy film continuity. In said update, they revealed that the movie would not be utilizing the Rise of the Blood Queen subtitle, and for the time being will just be known as Hellboy. In spite of the name change, the film will most likely still be based on the Hellboy story arc The Wild Hunt (which is where the eponymous Queen of Blood appears).
Hellboy is a reboot of the movie franchise based on the long-running Dark Horse Comics series by Mike Mignola. Lionsgate is in discussions to distribute the movie made by Millennium Films, which is set to be directed by Neil Marshall, produced by Larry Gordon and Lloyd Levin, and written by Mignola, Andrew Cosby, and Christopher Golden.
Rise of the Blood Queen will rise from the depths in late 2018. The movie’s cast includes David Harbour as Anung Un Rama (Hellboy) and Ian McShane as Trevor Bruttenholm (Professor Broom).
Source: IGN
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The film will also be set in Central City.