On Wednesday, we reported that Hannibal Classics was developing a 3D Amityville movie, called Amityville- The Legacy 3D. Dimension Films and Miramax also own the rights to produce Amityville films and have planned their own movie, titled The Amityville Horror: The Lost Tapes.

The press release describes The Lost Tapes as a "found footage" film that takes place after the events of the original film and book. Continue reading for more information from the official press release...

"Dimension Films and Miramax today announced the production of THE AMITYVILLE HORROR: THE LOST TAPES. This is the first film to be produced under the agreement between Miramax and The Weinstein Company to create sequels to some of Miramax's best-known properties.

Dimension also announced that it has acquired the rights to a new screenplay for the film by Casey La Scala and Daniel Farrands. Farrands and La Scala are also set to direct the film. Production will commence this summer with a release date scheduled for January 27, 2012. The announcement was made today by Bob Weinstein, co-chairman of The Weinstein Company (TWC), and Mike Lang, CEO of Miramax.

THE AMITYVILLE HORROR: THE LOST TAPES showcases the events after the time of the original The Amityville Horror book and movie through found footage dating back to 1976. An ambitious female television news intern, on the verge of breaking the most famous haunted house case in the world, leads a team of journalists, clergymen and paranormal researchers into an investigation of the bizarre events that will come to be known as The Amityville Horror ... only to unwittingly open a door to the unreal that she may never be able to close.

'We are thrilled to return to the mythology of The Amityville Horror with a new and terrifying vision that will satisfy our existing fans and also introduce an entirely new audience to this popular haunting phenomenon,' said Bob Weinstein.

THE AMITYVILLE HORROR: THE LOST TAPES is being produced by Jason Blum, Casey La Scala and Daniel Farrands. Bob and Harvey Weinstein are Executive Producers. Blum has previous experience with found footage films having produced PARANORMAL ACTIVITY 1 and 2, which have grossed close to $400 million worldwide.

The Amityville Horror stories are based on events in the life of George Lutz. The Amityville Horror project is one of several sequel or development projects that Miramax and TWC are currently collaborating on."

Source: Official Press Release