Jason Blum of Blumhouse Productions is following the “If it ain’t broke, don’t fix it” school of thought when it comes to micro-budget horror franchises.  Having seen great success with the Paranormal Activity series and with the second installment of Insidious due out later this summer, a sequel to last fall’s Sinister is now in the works.  Reportedly made for $3 million and bringing in around $80 million worldwide, the money is clearly behind forging ahead with establishing a third franchise.  Fans of the original will be happy to hear that the creative talent behind the camera will reunite for the sequel.  Hit the jump for more.

Recent video game news has seen adaptations of Assassin’s Creed and Tom Clancy’s Splinter Cell land leading men, but a new project sees Deus Ex: Human Revolution progressing with writer/director Scott Derrickson (The Exorcism of Emily Rose) attached to helm. Derrickson will co-write the treatment along with his Sinister co-writer, C. Robert Cargill. Though the Deus Ex video game franchise started in 2000, the feature will use 2011′s Deux Ex: Human Revolution as a template. The story follows special operative Adam Jensen, who is technologically augmented into a super soldier in order to unravel a global conspiracy. Hit the jump for the video game trailer and the full press release. 

Last week, we let you know that Ethan Hawke had signed on to star in a low-budget, found footage horror film from director Scott Derrickson (The Exorcism of Emily Rose). Although details on the film were sparse at that time, info is beginning to bleed out now that Summit Entertainment has acquired U.S. domestic rights to the pic. According to Deadline, the film will see Hawke take on the role of a journalist who moves his family from corner to corner so as to get the skinny on gruesome murders that he then adapts into books. As the story goes, Hawke and co. move into a house where an entire family was murdered, only to find said footage which lets them in on what really happened.

It’s believed that the project will cost less than $5 million to make with Paranormal Activity and Insidious‘ Jason Blum co-producing alongside Brian Kavanaugh-Jones’ Automatik Entertainment. Given Blum’s track record of turning low-budget horror projects into profit, I’d say there is minimal risk at play here at least from Summit’s perspective. The studio is expected to follow the tried and true formula of releasing the pic, which Derrickson co-wrote with C. Robert Cargill, to limited theaters initially with a commitment for potential wide release to follow.