Catfish creators Henry Joost and Ariel Schulman are set ti take on and direct Paranormal Activity 3 for Paramount Pictures. Variety report that Paranormal Activity 2 writer Christopher B. Landon will pen the third installment and the first film's director Oren Peli will again produce with Jason Blum. Variety go further and state that the third film "is currently being envisioned as an origin story set in the 1980s that will follow a new family." Paranormal Activity 3 will hit theaters October 21st 2011.
