Source: The Toronto Star

Original creators Eduardo Sánchez and Daniel Myrick recently spoke about the possibility of a third Blair Witch film, fueled by the success of Paramount's word-of-mouth blockbuster. "I wouldn't be completely honest with you if I said I wasn't jealous of Paranormal Activity," says Sánchez.

The writing and directing team turned down the offer to direct Book of Shadows: Blair Witch 2, which bombed at the box office. Now, a decade later, the pair is ready to create a follow-up to their original film, ignoring the second chapter they didn't make. "We're at the step where we're about to pitch to Lionsgate, which owns the movie rights now. It's pretty much up to them. They can completely squash it or greenlight it."

The original film grossed $140.5 million (only a half-million short of $200 million when adjusted for inflation) against a $60,000 budget, on the strength of an advertising campaign that promoted the hand-held, first-person film as "found footage". The 2000 sequel, in comparison, was shot like a traditional film, costing $15 million but only scraping together $26.4 million during its theatrical run.