A quick update to the post from earlier this month about the upcoming third installment in the found-footage anthology horror franchise V/H/S, titled V/H/S: Viral. At that time, the film, which features new shorts by Nacho Vigalondo, Todd Lincoln, Gregg Bishop, Marcel Sarmiento, and Justin Benson, was being readied for sale during the Cannes Film Festival, which officially kicks off later this week in the South of France. But now TheWrap says the U.S. rights to V/H/S: Viral are already gone, taken by Magnet Releasing, the genre label of Magnolia Pictures that released both previous V/H/S films.

TheWrap’s story also includes the first details I’ve seen about the various segments’ plots:

“The segments in V/H/S: Viral include the story of a deranged illusionist who obtains a magical object of great power; a homemade machine that opens a door to a parallel world; teenage skaters that unwillingly become targets of a Mexican death cult ritual; and a sinister, shadowy organization that is tracking a serial killer.”

Ugh, not that tired old cliché about teenage skaters targeted by Mexican death cults. How many times is Hollywood going to make the same movie over and over? Anyway, the framing story that links these disparate elements apparently involves “a group of fame-obsessed teens following a violent car chase in Los Angeles that unwittingly become stars of the next Internet sensation.” I will leave you to speculate which directors made which shorts.

TheWrap says Magnet is planning a fall release for the film. That makes sense, given audiences’ general predilection for spooky stuff around Halloween as well as the proximity to prime awards season. It’s still early in the year, but I feel like V/H/S: Viral could be the early frontrunner for the Oscar for Best Use Of A Mexican Death Cult. At the very least, it should be a mortal lock for the Golden Globe for Best Use Of A Mexican Death Cult (Musical or Comedy).