Platinum Dunes, the production company run by Michael Bay, Brad Fuller and Andrew Form, has been on a winning streak for a few years now, remaking classic horror movies like Friday the 13th and The Amityville Horror specifically for audiences who weren't old enough to see the originals anyway. And Paramount, which has made a whole heck ton of money off Bay thanks to Transformers, wants in; they've signed a first-look deal with Platinum Dunes, according to Variety, with plans to branch out into action and thriller movies thanks to the new parent company.

“We offer a valuable service to the studio, especially with all this turmoil going on in the business right now, in that we do things cheaply, and we’ve had a lot of success with it,” Bay said in Variety. “Through the first two Transformers films, I’ve gotten to know the studio very well, and I’ve got a good rhythm with them. I’m excited about this.”

It's fascinating to read the words "low-budget" and "Michael Bay" in the same sentence, but he's smartly realized that, in-between getting $300 million to make movies about robots beating each other up, there's money to be made on a slightly smaller scale. Next up for the bunch is The Butcherhouse Chronicles, which is somehow like The Breakfast Club set in a haunted house, as well as a thriller called Property of the State.