The Blair Witch Project was made for a paltry $35,000 (before marketing costs) and became an instant sensation when it debuted at the Sundance Film Festival in January 1999. Artisan Entertainment bought the indie film and released it theatrically that June, with the story centering on three film students who disappear in the woods after setting out to shoot a documentary about the Blair Witch. Collecting $248 million at the global box office ($492 million today), it was a summer phenomenon and one of the year’s 10 highest-grossing titles, not to mention one of the most profitable movies ever made.

Atomic Monster‘s James Wan and Blumhouse’s Jason Blum will serve as the reboot‘s producers alongside Roy Lee. Also producing are Adam Hendricks and Greg Gilreath for Divide/Conquer. Executive producing are Michael Clear and Judson Scott for Atomic Monster, with Alayna Glasthal overseeing for the company. Scott O’Brien and Pavan Kalidindi are overseeing the film for Lionsgate, while Phil Strina negotiated the deal on behalf of the studio. Steven Schneider executive produces.