Pictured: Saw creators Leigh Whannell and James Wan [photo credit: Sahlan Hayes]

While Paramount and Lionsgate battle it out for the top spot at the Halloween box office with Paranormal Activity and Saw sequels in 2010, the original creators of both those properties are actually teaming up on a new low-budget film called Insidious. Following the grassroots success of Paranormal Activity, producers Oren Peli (who also directed), Jason Blum and Steven Schneider signed a five-picture deal with Alliance Films to produce low-budget genre pics. As such, the first film under that deal will be Insidious, which comes from Saw creators James Wan and Leigh Whannell.

Wan will direct the film off a script by Whannell, and while they're currently keeping the story under lock and key, Wan said that Whannell's script "took a haunted house movie with all the usual conventions and twisted it on its head." Shock had reported at the end of January on the film when it was under the title The Further, and here's how they described it: "Further tells the story of a young family that makes the terrifying discovery that the body of their comatose boy has become a magnet for malevolent entities, while his consciousness lies trapped in the dark and insidious realm known as The Further."

No word yet on how low budget these films will be, but considering that Paranormal Activity clocked in somewhere around $11,000, there's a chance these could be really low budget genre films, which is good because, in my opinion, it'll force these folks to get creative and find ways to freak us out on the real cheap instead of having millions of dollars and endless amounts of special effects to cover up a weak script.

These are the sorts of collaborations that really get me excited, especially because with so little money invested you know films like Insidious will be made on the filmmakers terms. That's what made the original Saw film so special and unique, and the same goes for Paranormal Activity. Now I don't know if Insidious will turn out good or not, but knowing all these folks are involved means it'll at least be worth a watch.