Lionsgate has acquired the horror spec script “Video Nasty” for Seth Rogen’s Point Grey and Greg Silverman’s Stampede Ventures to produce, Variety has learned exclusively.

“Video Nasty,” written by Chris Thomas Devlin, centers on three teens who rent a cursed VHS and are pulled into an ’80s slasher movie that threatens to trap them forever. Point Grey’s Rogen, Evan Goldberg, Josh Fagen and James Weaver will produce along with Stampede Ventures’ Silverman and Jon Berg.

While no deal is in place, “50/50” director Jonathan Levine is eyeing the project to possibly direct and produce along with his producing partner Gillian Bohrer. Levine, who also directed “Long Shot,” “Snatched” and “The Night Before,” is represented by CAA and Goodman, Genow, Schenkman, Smelkinson & Christopher.

No cast has been set. Rogen and Goldberg formed Point Grey in 2011 and the banner has produced “50/50,” “Blockers,” the two “Neighbors” movies, the raunchy animated hit “Sausage Party,” “Long Shot,” “Good Boys” and “An American Pickle.”

Silverman formed Stampede Ventures in 2017 after leaving Warner Bros., where he was president of creative development and worldwide production. Stampede’s comedy-drama “Pink Skies Ahead” premiered last month at the AFI Fest. Berg produced “Elf” and his DC credits include “Doctor Sleep,” “Justice League,” “Wonder Woman” and “Aquaman.”

Devlin is the writer of “Cobweb” for Vertigo, Lionsgate and Point Grey, which is currently in production, and the upcoming “Texas Chainsaw Massacre” reboot. He is represented by UTA, Jeff Portnoy and John Zaozirny at Bellevue Productions, and Darren Trattner at Jackoway, Austen, Tyerman, Wertheimer ,Mandelbaum, Morris, Bernstein, Trattner & Klein.

Jim Miller and Chelsea Kujawa are overseeing for Lionsgate.  Bonnie Stylides oversaw the deal for Lionsgate.