If you are fans of really old horror movies, then some of these titles may ring a bell. Like 1941’s Lady Scarface with Judith Anderson or 1956’s While the City Sleeps, whose main user comment on IMDB last time we checked was: “Nice tone, shame about the plot.”

What do you expect with a sensational lipstick murder?

If you are a fan of either of those movies (or, hell, even if you’ve just seen them before) you might want to get a little excited.

A film company named RKO made a co-financing deal with Twisted Pictures, the guys who make the Saw movies, in June of last year. Now, RKO has just gotten a pass from the Writer’s Guild and will be allowed to begin production, so RKO started Roseblood Movie Co., its name a play on the most famous property RKO owns: Citizen Kane.

Luckily Kane isn’t up for the re-make treatment, because the two films I mentioned previously are. Roseblood will be re-making five to eight horror movies at low budgets. And the reasoning is much more lame than it should be.

The launching of the Roseblood Movie Co. was the motivating force behind our making an agreement with the Writers Guild,” RKO member Ted Hartley told Variety. “We’ve got other projects at RKO, but we needed to get going on this. The most successful ROI in the movie business comes from scary movies that get wide release and cost under $10 million. We’ve studied it extensively for our stockholders and investors and we saw the opportunity to take the rich Val Lewton library of scary thrillers and create a unique company out of it.”

Val Lewton was a director that made 9 mildly successful horror films for RKO in the 1940s, just in case you were wondering what we weren’t telling you.

The Good: More horror films.
The Bad: Re-made horror films.
The Ugly: Horror films purely for profit.