Lionsgate has plans to renew its commitment to low-budget theatrical fare as Variety reports that John Sacchi has been brought aboard to oversee the development of a new division focusing on horror and comedy projects budgeted at $2.5 million or less.
The new division would likely follow the model of companies like Blumhouse Productions, responsible for the Paranormal Activity franchise and Paramount Insurge, known for films like The Devil Inside.
Lionsgate, of course, also has quite a bit of experience working with microbudgeted projects as their Saw franchise, in 2010, was award the Guinness Book of World Records title for “Most Successful Horror Movie Series.”
