This may not be a shocker to most of us but the LA Times spoke with Paramount Chairman Brad Grey today, who said, "We have the rights on a worldwide basis to do 'Paranormal 2' and we're looking to see if that makes some sense." Grey believes the original is on track to gross more than $100 million domestically. That would make it the most profitable film for Paramount since he took over in 2005 and, quite possibly, in the studio's history....

Follow up:

But lest they move too quickly, let's not forget that producing follow-ups to low-cost movies that unexpectedly capture the nation's attention can be difficult, however, making a "Paranormal Activity 2" sequel a potentially perilous task for the studio. "Book of Shadows," the 2000 follow-up to 1999's indie horror phenomenon "The Blair Witch Project," was very poorly received and grossed just $26.4 million domestically, compared to $140.6 million for the original.