"Catfish" producer-directors Ariel Schulman and Henry Joost (below) have signed on to direct Paramount's "Paranormal Activity 3," the third installment in the "Paranormal Activity" franchise, TheWrap confirmed Wednesday.
Christopher B. Landon, who wrote "Paranormal Activity 2" and "Disturbia," is writing.
It's a strong franchise. Writer-director Oren Peli made the first installment for $15,000. It 
went on to earn $193 million at the worldwide box office. The second, made for about $3 million, grossed $177 million.
Jason Blum and Oren Peli return as producers. Steven Schneider and Akiva Goldsman are executive producers.
Paramount isn't releasing details of the storyline — but it will release the movie this Oct. 21.
Landon, Joost and Schulman are repped by CAA.
