Producer-director Michele Ohayon has joined the finance-production company Magnet Media Group as president of production and will produce sci-fi actioner “O2” with Magnet topper Jeanette Buerling.

Magnet is fully financing “O2” with plans to shoot this summer in Germany and the U.K. on a $50 million budget. Ronnie Christensen (“Dark Tide,” “Passengers”) wrote the script; “Gremlins” helmer Joe Dante is attached to direct.

Ohayon, a native of Morocco, began working in films with 1984’s “Pressure” and was nominated for an Oscar for the 1997 docu “Colors Straight Up.” Her other docs include “It Was A Wonderful Life,” “Cowboy Del Amor,” “Steal a Pencil for Me” and “S.O.S./State of Security,” which premiered at the Berlin Film Festival in 2010.

“Working with Magnet gives me first hand access to producing high budget films, and allows me to bring my own content input to the table,” Ohayon said.

Magnet’s also developing “Married and Cheating,” with Raymond De Felitta (“City Island”) directing his own script, to be shot in Paris in the summer, and action thriller “Home Front” with Bill Chartoff (“The Mechanic”), Lukia Czernin, Buerling and Ohayon producing. “Home Front” is set to be shot in South Africa in September.