By ALI NADERZAD – April 8, 2010

Whenever something noteworthy comes up Screen Comment will share recent intel about dealmaking and movies distribution in this new section called THE INSIDER (file these wee articles under ‘MOVIE BIZ’).

The Wagner/Cuban Company’s Magnet Releasing, which is the genre arm of Magnolia Pictures announced that it has acquired the rights to “[REC] 2,” the anticipated sequel to the terrifying cult favorite, “[REC].” Directors Jaume Balagueró and Paco Plaza return for “[REC] 2,” maintaining the same claustrophobic concept or the original while finding new means of delivering scares to the audience. “[REC]” told the story of a quarantined apartment building infected with a ferocious virus that spread a terrifying form of demonic possession to the trapped inhabitants. “[REC]” 2 kicks off shortly after the events of the first film, when a medical officer and a SWAT team armed with video cameras are sent into the sealed off apartment building to try and neutralize the situation.

Magnet plans an early July theatrical release for the film, which will be released through Magnolia/Magnet’s Ultra VOD program, debuting a month prior on VOD platforms nationwide.

“Without a doubt, [REC] 2 is the scariest film of the year,” Magnolia Vice-President Tom Quinn told Screen Comment. “Nobody does horror as terrifying as directors Jaume Ballaguero and Paco Plaza. It’s a great fit for Magnet.”

Said directors Balagueró and Plaza, “[REC]2 comes courtesy of the audiences who infused life into its predecessor. Their enthusiasm and imagination. In some way they’re the ones who created it. It’s their fault.”

I’m scared. Are you scared?