Fourth outing of the found footage horror to arrive this year. In an unsurprising move, Paramount Pictures has confirmed that a fourth installment of the ‘Paranormal Activity’ franchise is on the way. The news comes via a press release sent to STYD: “In 2012, Paramount’s release slate highlights include ‘World War Z,’ a zombie thriller starring Brad Pitt and directed by Marc Forster , ‘G.I. Joe: Retaliation,’ the next installment in the global franchise starring Dwayne ‘The Rock’ Johnson and Channing Tatum , a new chapter in the ‘Paranormal Activity’ franchise, and ‘The Dictator,’ starring Sacha Baron Cohen and directed by Larry Charles , the team behind ‘Borat.’” There is currently no release date for the next outing of the found footage horror, but it should be safe to say that we are looking at a late October release. The franchise has proved to a success for the studio, with the most expensive movie in the series costing only $5 million. All three films in the franchise have grossed over $200 million worldwide.