After 4 years, there's a new Paranormal Activity movie in the works, it's a "rebirth" for the series, and The Conjuring and Insidious creator James Wan is producing: "Do not see it alone"

There's a new Paranormal Activity in the works described as a "rebirth" for the franchise, and James Wan, known for The Conjuring universe, is one of the producers.

The news, per THR, comes nearly two years after Wan's production company Atomic Monster merged with Paranormal Activity production company Blumhouse. Paramount is once again back to produce, distribute, and co-finance the flick. Meanwhile, original Paranormal Activity director Oren Peli, who managed to make a $194 million-grossing smash hit - not to mention one of the scariest found footage movies of all times - from a tiny $15,000 budget, is also signed on to produce the untitled new movie.

"I've been a huge admirer of Paranormal Activity since the brilliant first movie, with its creeping slow burn and subtle ability to make the unseen terrifying," said Wan. "I'm looking forward to expanding on its legacy and helping shape the next evolution of this scary found-footage franchise."

The original 2007 Paranormal Activity didn't really catch fire until Paramount acquired it and gave it a wide theatrical release in 2009, but when it did, it was like wildfire, spawning six commercially successful, but critically mixed, sequels as well as a comic, several video games, a stage play, a podcast, a documentary, and an obscure Japanese spinoff called Paranormal Activity: Tokyo Night.

It's unclear if the new movie will have anything to do with an existing entry, but Blum emphasized the scare factor in his own statement. "Diving in with James for this exciting rebirth of the franchise that started it all for Blumhouse is exactly what we dreamed of when we merged with Atomic Monster," he said. "I'll be actively involved with him to introduce this new chapter.

"Thankfully, we're able to spend a little more than the $15,000 we had on the first movie, but one thing will remain the same — do not see it alone."

Paranormal Activity didn't quite make the cut for our list of the best horror movies ever made, but it's still one of the finest examples of minimalist found footage horror.