Michael Bay is developing a new horror movie called 'Meet Jimmy'.
The blockbuster director's own production company Platinum Dunes will head the upcoming project alongside Paramount after the studio won a bidding war for the rights.
Based on a short horror flick by Dutch filmmakers David-Jan Bronsgeest and Tim Koomen, the feature length film focuses on a podcast which has horrific consequences for its listeners.
Bronsgeest will be at the helm as director for the adaptation, while the script comes from Koomen and the writing team of Shawn and Michael Rasmussen.
As reported by Variety, executives at Paramount see the movie as a potential franchise.
'Meet Jimmy' is set to be co-produced by Platinum Dunes - represented by Bay, Andrew Form and Brad Fuller - and the Picture Company's Andrew Rona and Alex Heineman.
Koomen will also be co-producer, with Good Fear's Jake Wagner and Scott Stoops acting as executive producers and Paramount's Ashley Brucks overseeing the project for the studio.
It comes after Bay joined forces with Paramount for John Krasinski's 'A Quiet Place', which pulled in $330 million at the global box office earlier this year. Following its success a sequel is already in the works.
Meanwhile, the 'Pearl Harbor' filmmaker is also working on big budget action movie 'Underground 6' for Netflix, with Ryan Reynolds taking the lead.
Netflix is set to co-finance and distribute the film, making it the first time Bay and Reynolds have collaborated with the online streaming service.
It will also see the 'Deadpool' actor reunited with Paul Wernick and Rhett Reese - writers for the comic book movie and its sequel - who have penned the script for the upcoming project based on their own original idea.
Earlier this year, Deadline reported that the action thriller's budget could be in the $150 million range - which would make it Netflix's biggest feature film to date - and its slated to start production this summer.
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