Lionsgate Looking to Scare Up Some New Micro-Budget Chillers
Lionsgate is a company that, like many before it, built itself on the horror genre. Now that the company has grown exponentially, they've decided to take a bit of a look back at their results and as a result are building out a new low-budget genre arm.
According to Variety, Lionsgate has signaled strong support for its micro-budget feature division with longtime production executive John Sacchi tapped to head the operation. The studio is aiming to replicate the success of Paramount Insurge, formed in the wake of the outsize success of producer Jason Blum's Paramormal Activity. Insurge's The Devil Inside grossed more than $100 million worldwide last year at a cost of only $1 million.
Sacchi has a long track record in supervising Lionsgate films with exec producer credits on My Bloody Valentine, Punisher: War Zone and The Possession, which grossed nearly $80 million last year. The micro-budget arm is understood to be seeking horror and comedy projects with a pricetag of up to $2.5 million.
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