James Wan CONJURING up a haunting indie film for New Line

James Wan is close to a deal to direct a low budget horror film for New Line called The Conjuring. The project is being produced by Peter Safran and Tony DeRosa-Grund under The Safran Company, accoring to Variety. Carey and Chad Hayes wrote the pitch for The Conjuring, which "is inspired by the supernatural events that happened in the Rhode Island home of the Perron family."

The film was originally being considered by Summit, but talks fell apart and New Line has since stepped in. At this point a start date has not been set, but once Wan comes aboard one will likely be decided upon soon. Wan knows a thing or two about directing haunted house films, his recent ghost film Insidious cost only a million to make, but grossed more than $75 million worldwide.

I have yet to see Insidious, but plan to when it arrives on DVD. I have seen some of Wan's other films and so I would be interested in seeing him direct this project. What are your thoughts on this news?