Paramount has found its director for a new installment of the horror series, The Ring.

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The Hollywood Reporter reports that Spanish director F. Javier Gutierrez is tapped to direct the third installment of the horror series. The Ring is a remake of a Japanese horror film from 1998.

The American series started in 2002 with a film of the same name directed by Pirates of the Caribbean helmer Gore Verbrinski with Naomi Watts starring and earned $249.3 million worldwide. A sequel, The Ring Two, came out in 2005 and earned $161.5 million. There's been talk of a third film for several years, and Paramount has been eyeing a 3D "threequel" back in 2010.

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According to THR, Gutierrez first made a name for his himself with his feature directorial debut, the Spanish-language sci-fi thriller Before The Fall (Tres Dias). The film, which he also wrote, was popular with the genre movie crowd and was lauded in Spain. He's attached to direct the reboot of the comic book adaptation of The Crow for Relativity and The Weinstein Company.

The story for the third film is unclear right now and Paramount may look to capitalize on the recent found-footage horror trend with this film. According to Collider, Transformers: Dark of the Moon and Transformers: Age of Extinction scribe Ehren Kruger contributed to the script for The Ring and penned The Ring Two on his own, but it's unclear if he'll be asked to return for this third entry in the franchise.

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