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Sunday
29Nov2009

Paramount Grabs 'Paranormal' Follow-Up 'Area 51'

DateSunday, November 29, 2009 at 8:21PM
Paramount Pictures, in what should be a surprise to no one, has signed the domestic distribution deal for Oren Peli's follow-up to Paranormal Activity. That film made a cozy $100 million-plus profit, and it was virtually all profit. Now the same studio that helped make the low-budget horror thriller so successful will throw Peli's Area 51 into theaters sooner than you might think.

The studio has committed a "high-seven-figure" amount to the distribution, according to Variety, and Peli's larger production budget for Area 51 as still a bargain basement $5 million. Peli has already wrapped production on the film, which was shooting while Paranormal was quickly becoming the most profitable movie of all time. Because of that schedule, expect to see this one in theaters next year. Because studios are creatures of habit, my hunch would be late September/early October, just like Peli's breakthrough film.

In an interesting development, Area 51 had most of its foreign distribution rights snagged at the American Film Market in early November, and rather than Paramount partnering with one other major or handling these territories itself, the producers sold the rights to a number of media companies, which is exactly what happened with Paranormal. It will certainly pay off once; can it happen twice?

Said Stuart Ford of financiers IM Global, “With the international distribution already set up on the film, bringing Paramount onboard after they did such distinguished work on Paranormal Activity is the perfect finale, and most important piece in the jigsaw.”

The "found footage" motif Peli used in Paranormal will return in his new flick, which, as you have already deduced is about aliens. And in case you were wondering, it does appear more and more likely that there will be a sequel to Paranormal Activity sooner than later, probably using the same channels.

AuthorColin Boyd | | in , | Print ArticlePrint Article | | CommentPost a Comment |

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