With the phenomenal success of Oren Peli's breakout debut film Paranormal Activity, it should come as no surprise that several candidates have sparked a bidding war. According to The New York Times, Peli's new film Area 51 has become a hot commodity with no less than six studios and production companies engaged in a bidding war for the film.
While it isn't clear which companies are in the running, since the bidding is still open, it was clear that Paramount is not on of the suitors.
"We are not in active discussions to buy Area 51, " said Katie Martin Kelly, a Paramount spokeswoman.
Area 51 is currently shooting in Utah, and it was said that bids for the film have been in excess of $10 million for the film, which was said has a production budget of around $5 million. In contrast, Paramount bought the rights to Paranormal Activity for about $300,000.
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