Paramount Picks Up Oren Peli's Area 51

After Oren Peli's massive success with Paranormal Activity he set out to make Area 51. With all the hype is film managed to gather he was able to secure a budget that is reportedly slightly under $5 million dollars. Of course being a hot commodity this meant his next film would bring quite a bit of interest.

Paramount had a lot of pull however being the company that helped distribute his first film. So they now have the rights to Area 51. Pic, which completed principal photography three weeks ago, was fully financed by Incentive and the Aramid Entertainment Fund.

The film employs the "found footage" narrative structure that Peli used in "Paranormal Activity" to tell the story of three teens whose curiosity leads them to the notorious Area 51 portion of Nellis Air Force Base in the Nevada desert. So be on the look out for the film because it should be hitting theaters sometime next year.