Paranormal Activity 3

Paramount Pictures

Update! Paramount has announced that the latest installment in the franchise will hit theaters Oct. 19, just in time for the spookiest holiday of the year!

The Paranormal Activity "mythology" lent itself nicely to a trilogy, albeit one that didn't play out in chronological order.

But why stop at three low-budget films that turn a huge profit when you can have four?!

So considering the $600 million return on three horror flicks that respectively cost $15,000, $3 million and $5 million to produce, Paramount is cranking up the old video camera once again for Paranormal Activity 4.

There's no word yet on where in the storyline the new installment will fit (or if it will track the same family), but at least fans don't have to wait long to find out.

The studio hasn't set an exact date, but its aiming for a 2012 release. (Remember, that's this year, folks!)

There's certainly something to be said for a film that doesn't have to languish in preproduction while its producers sign big stars, negotiate 50-page contracts and make sure the type of special effects they want to use have been invented yet.

Still, a film coming together this fast is almost scary.

Originally published at 12:25 p.m. PT on Jan. 3, 2012.

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