We seem to have had a lot of horror movie news as of late, but now it’s an already familiar franchise which is being resurrected in the hope of scaring up some cash (and moviegoers of course).

Paramount are apparently moving ahead with a third instalment in The Ring franchise, with F. Javier Gutierrez set to direct. He made a name for himself with the Spanish-language sci-fi thriller Before The Fall (Tres Dias), and it resulted in him being attached to direct the reboot of the comic book adaptation of The Crow.

The first movie was released in 2002, starring Naomi Watts and directed by Gore Verbinski.

That earned an impressive $249.3 million worldwide, but the not so great sequel which followed in 2005 – The Ring Two – grossed only $161.5 million. This isn’t the first time that there’s been talk of a third movie in the franchise however, as Paramount were at one point planning on releasing The Ring 3D back in 2010.

Walter Parkes and Laurie MacDonald are producing the currently untitled third film.

The Ring focused on a mysterious (and cursed, obviously) video tape which killed whoever watched it. However, it’s hard to imagine that anyone owns a VHS player these days, so perhaps they’ll upgrade to a DVD or Blu-ray? They are at least the right shape for a movie called The Ring, are they not?