EXCLUSIVE: I’m hearing rumblings of some major happenings over at Lionsgate that I haven’t had a chance to confirm yet. But, now that you’re reading this, I’m officially poking the bear(s) in hopes of gaining clarity.

In a potential monstrous exclusive (please, no eggs to the face!), an insider is telling us that Lionsgate is already in production on a new entry to the The Blair Witch Project series!

Is it a remake? Is it a sequel? Is it a spinoff? We aren’t sure. BUT, it’s quite possible that the newly announced The Woods, which is being directed by Adam Wingard from a screenplay by Simon Barrett, is said film. We just don’t know for sure.

The Woods‘ plot is being kept very much under wraps, which only lends credence to this theory. What we know is that it does, “…involve a group of college students on a camping trip who discover they are not alone.” If that doesn’t sound like the perfect foundation for a new Blair Witch film, I don’t know what would!

If this story proves true, the new Blair Witch is being produced by Keith Calder and Jessica Wu of Snoot (You’re Next, The Guest), Roy Lee (Poltergeist, The Ring) and Steven Schneider (Paranormal Activity, Insidious). That’s quite a team!

Rumors about a third Blair Witch have been swirling for years. Back just this past January Blair Witch co-director Eduardo Sanchez said a sequel was inevitable.

The 1999 The Blair Witch Project made a whopping $248M at the box office, which had Book of Shadows: Blair Witch 2, the non-found-footage sequel in theaters by 2000. It was a huge flop and canned the series for the past 15 years. To me, a third Blair Witch is a no-brainer, and always has been. How exciting would this be?!

And…could we finally see “The Witch” this time around?!

I’m going to see what I can find out this weekend and update the story accordingly.