Return of the Living Dead 4 and 5: According to The Hollywood Reporter, Anatoly Fradis' Los Angeles-based Aurora Entertainment Corp. is set to start back-to-back shooting from June 7 in Romania on the fourth and fifth sequels to the Return of the Living Dead series of films, with Ellory Elkayem attached to direct and Peter Coyote headlining.

Both films have been fully financed by a $35 million equity fund that Fradis ("Eight Legged Freaks") set up last year. The fund is based in America but backed by a group of private Eastern European and Russian investors.

They set the scene for plans to make six or seven films a year in the $6 million-$10 million budget range through the fund, Fradis said. Titled "Return of the Living Dead 4: Necropolis" and "Return of the Living Dead 5: Rave From the Grave," the films were written by William Butler and Aaron Strongoni and feature a relatively unknown cast drawn from TV.

Special effects will be done by Optic Nerve Studios.