New “Blair Witch” film from Lionsgate, Blumhouse in the works

Lionsgate and Blumhouse return to the forest for a new adventure Blair Witch Project Movie.

It's part of a multi-film deal between the studios that will see Blumhouse reimagine Lionsgate's horror classics. The deal follows the duo's collaboration Imaginarywhich has grossed $38.2 million since its release last month.

1999s Blair Witch Project is considered one of the most profitable films of all time. Produced for $35,000, the film was expected to gross $249 million worldwide (post-production costs bring the budget closer to $200,000 to $500,000). It sparked a found footage film boom, spawning a sequel in 2001 and a sequel in 2016. Roy Lee, who produced the film in 2016, is back for the new installment.

Lionsgate film chairman Adam Fogelson and Jason Blum announced the news.

“I have been incredibly fortunate to have worked with Jason many times over the years. We have built a strong relationship The purge when I was at Universal and we started STX with his film The gift. “There is no one who does this genre better than the team at Blumhouse,” said Fogelson. “We are excited to begin this partnership with a new vision Blair Witch This will reintroduce this horror classic for a new generation.”

Blum nodded Blair Witch for helping open the door to his own found footage hit Paranormal activityHe said: “I don’t think there would have been one Paranormal activity If there hadn't been one first Blair WitchSo this feels like a really special opportunity and I’m excited to see where it goes.”