With the phenomenal success of 'Paranormal Activity' and its sequels, other studios took to copying the formula of making micro-budgeted horror movies, which is partly why we got 'Sinister.' Done for $3 million, it has made over $87 million worldwide, and so it's no surprise they're working on a sequel, which got officially announced today.

The good news is that the main creative team behind the first film is back, including writer/director Scott Derrickson and writer C. Robert Cargill, though - as Deadline notes - it's unlikely that Derrickson will direct the follow up as he's moved on to other things. From their word he'll be back to produce and write the sequel along with Cargill.

The first film starred Ethan Hawke as a writer who found some home movies that were evil. But don't be surprised if Hawke doesn't come back as with horror films it's exceptionally easy to write out any name players, and currently the cast for the follow up is being kept under wraps. Though horror films can be shot quickly, it seems unlikely we'll get this for Halloween this year (though anything's possible). We'd bet the film comes out next February, as we've seen a number of genre films -- like 'Mama' -- do well in the early months of the year.

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