Jason Blum Sinister

New venture to be unveiled at Cannes

Micro-budget pioneer Jason Blum is launching Blumhouse Intl. to oversee foreign sales of the company’s movies and will debut the venture at Cannes.

The newly minted venture has a worldwide distribution and servicing deal with IM Global.

The first Blumhouse Intl. projects for sale at Cannes are “Sinister 2,” a sequel to Blumhouse’s $3 million horror thriller, which grossed more than $87 million worldwide, and comedy thriller “Stretch,” to be directed by Joe Carnahan and produced by Blum and the director.

Tracy Falco is exec producing “Stretch” and Leon Corcos is co-producer. Both projects will begin production later this year.

Blum has had major success via the “Paranormal Activity” franchise, launched in 2009.

The division will handle sales of films outside Blumhouse’s first-look deal with Universal. Blumhouse noted that six of its recent titles grossed a combined $450 million foreign on combined budgets of under $25 million.

“We are excited to expand our company’s international presence as the success of our micro-budget films continues to grow across the world,” Blum said.

The company said it expects to announce an executive for the new entity soon.

Blumhouse already has four microbudget wide-release movies on tap including its first film for Universal, “The Purge,” with Michael Bay’s Platinum Dunes, which opens June 7; “Insidious Chapter 2,” the sequel to “Insidious” with FilmDistrict on Sept. 13; “Paranormal Activity 5″ for Paramount on Oct. 25 and “Ghosts”; for Lionsgate on Jan. 10.

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