Horror company Fangoria has set up Fangoria Films to produce three to four movies a year.

They'll raise the financing, which is expected to top $100 million; Brian Witten has been named as the first president. Based in Beverly Hills, the label will focus on the development and production of horror projects for theatrical release, says The Hollywood Reporter. Under Witten's leadership, the company will forge alliances with studios and independents for the production and distribution of Fangoria-branded fare. Financing and distribution details are expected to be finalized over the next six months.

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Later this year, the company will also introduce Fangoria Comics, a line of comic book titles based on original horror characters and themes. No word on thier first film.