After its one month climb to the top of the box office, culminating in its first weekend at #1 with $22 million, Oren Peli's Paranormal Activity is clearly a box office phenomenon, a point driven home by the subsequent failure of Saw VI to replicate the success of the previous five installments of the successful horror franchise. The Lionsgate mainstay opened in second place this weekend with $14.8 million, less than half the opening of the previous four movies.
Not surprisingly, the L.A. Times is now reporting that Paramount already owns the worldwide rights to make a sequel to the surprise hit, and the company's chairman Brad Grey tells them that they're "looking to see if that makes some sense."
The article, which you can read here, is a good recap of the story so far, as well as talking about the pros and cons of making a sequel to the movie that cost less than $15,000 to make and less than $11 million paid by Paramount for acquisition and marketing. So far, the movie has grossed $62.5 million and the L.A. Times claims it's on its way to $100 million.
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