There’s no word on who will direct this sequel. The first film’s mastermind, Oren Peli, has produced the two sequels, but so far, no director(s) have stayed on for more than one film. But these are super cheap productions, filmed pretty much over a weekend ("Paranormal Activity 3" literally went in front of cameras about five months before it hit theaters), and the studio will likely keep with this formula, finding someone who will work for cheap and won't ask too many questions. There’s no word on whether or not franchise star Katie Featherston will return for the fourth film, but there’s no reason to think she won’t.
As for Paramount, their press release for “Paranormal Activity 4” highlighted other big films for 2012: Sacha Baron Cohen’s “The Dictator,” "G.I. Joe: Retaliation” and “World War Z.” While they will all likely do good business, none will have the kind of profit margins the jump scare franchise delivers. No release date has been pegged yet, but the weekend before Halloween feels probable. [via Collider]