Summit picks up U.S. rights to found footage thriller starring Ethan Hawke

Summit Entertainment has picked up the U.S. distribution rights to an untitled "found footage" thriller being directed by Scott Derrickson, and starring Ethan Hawke. Deadline reports that the project is being produced by Jason Blum along with Brian Kavanaugh-Jones' Automatik Entertainment. The film is said to cost under $5 million and is slated to begin lensing in September. The film was picked up because of the track record of Blum (Insidious, Paranormal Activity) and Derrickson's (The Exorcism of Emily Rose) films have done well at the box office.

The scipt was written by Derrickson and C. Robert Cargill, and is said to be unsettling. Hawke plays "a journalist who travels with his family around the country to investigate gruesome murders he turns into books. After he moves his family into a house where another family was murdered, the journo discovers found footage that unveils horrifying clues beyond what caused the original tragedy."

I enjoyed both Insidious and Emily Rose, so I am interested in seeing this. Hawke starring adds some credibility to the film. What are your thoughts on this news?