With a price tag of $100 million, Universal Pictures wasn’t that interested in making a movie based on Hasbro’s Ouija board game, but when the price is slashed to about 5% of that, the studio is suddenly very interested.
Deadline is reporting that Universal is reviving the previously passed project now that a new iteration of it has been proposed that will only cost the studio $5 million. The original version was lined up to be directed by McG, which probably explains why the budget had traveled into nine-digit territory.
This new version is set to be co-produced with Michael Bay’s Platinum Dunes shingle, which is known for producing lower-budgeted horror fare that turns a profit and Blumhouse Productions, the company owned by Jason Blum, the producer of the low-budget/high-box office Paranormal Activity franchise.
This is a smart move on Universal’s part as low-budget horror films seem to be one of the few sure bets in Hollywood right now. Platinum Dunes has been a major player in that arena with their remakes of The Texas Chainsaw Massacre and The Amityville Horror bringing in respectable ticket sales against low production costs.
There’s no word yet as to any creative personnel for the revitalized project, but with the studio proposing a 2013 release, I’m sure those details will emerge soon.