Brad Pitt's production company Plan B, as well as Brett Ratner's RatPac Entertainment, in association with New Regency, have optioned a pitch from Ian McCulloch for a film called 3 Videotapes, according to Deadline.
The low-budget project is described as an "elevated thriller with aspects of The Ring and Memento."
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Low-Budget horror films, especially in the found-footage subgenre, have been profit machines for independent production companies in the recent years. Everything from the Blair Witch Project to the more recent Paranormal Activity franchise, and even cult classics like V/H/S have shown that indie horror has staying power.
Brett Ratner is set to executive produce 3 Videotoapes.