CP Productions is going horror. According to Variety, the production company is teaming up with Mississippi-based Ghostrider Productions to form a new horror genre division with plans to produce 10 horror films in the next three years.

Eric Thompson, who previously ran the Maverick Films horror wing Maverick Red, will head up the CP division. Thompson brought over several of the projects he developed at Maverick Red and will now produce them with Ghostrider.

Two of those films are Padraig Reynolds' Rites of Spring, which follows a vigilante father seeking vengence for his murdered son when he crosses paths with a teen-murdering serial killer, and Slaughter, which will be directed by Victor Garcia from a script from Nathan Brookes and Bobby Lee Darby.

The joint venture will also look to foster economic growth in the Katrina-ravaged Mississippi area. The new brand will film most of their projects in the Mississippi area and is aiming at doing two or three films per year.

"What is exciting about the fund is it will create more content and mitigate financial risk, while revitalizing the Mississippi area and help get people back to work," said Cerenzie.