Lionsgate plan new low-budget horror arm

Studio sets up a division for horror and comedies under $2.5 million

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Saw and Texas Chainsaw 3D distributors Lionsgate have announced a new low-budget division aimed at producing films for under $2.5 million.

No doubt spurred on by the massive amount of money they recoup from these low budget horror film goldmines (Texas Chainsaw 3D made its budget back and more in its opening weekend while the Saw franchise has made roughly $800 million), Variety have announced that Lionsgate are looking to find comedy and horror films that can be made within that limited budget.

The division is spearheaded by John Sacchi who produced massive money-makers My Bloody Valentine 3D and The Possession. Fingers crossed that this means we’ll get some great new low-budget horror.

Lionsgate did us all a favour by rescuing Joss Whedon and Drew Goddard’s The Cabin In The Woods from MGM’s bankrupt purgatory and releasing it last year. You can buy The Cabin In The Woods on Blu-ray for £15.00 on Amazon.co.uk