Lionsgate and Blumhouse are teaming up on a Blair Witch Project reboot.

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The pair announced Wednesday at CinemaCon that they will develop and produce a reimagining of the 1999 horror film.

The project is the first to emerge from a multi-film deal where Blumhouse will reinvent horror classics from the Lionsgate library.

Lionsgate and Blumhouse, a production company co-founded by Jason Blum and known for Paranormal Activity, Insidious, The Purge and other horror films, previously collaborated on Imaginary, which opened in theaters in March.

"I have been incredibly fortunate to work with Jason many times over the years," Lionsgate film chair Adam Fogelson said.

"We are thrilled to kick this partnership off with a new vision for Blair Witch that will reintroduce this horror classic for a new generation," he added.

Blum will work with producer Roy Lee on the reboot. Lee previously produced the 2016 sequel Blair Witch.

The original Blair Witch Project opened in July 1999 and became one of the most profitable films of all time. The film follows three student filmmakers who disappear while investigating the titular Blair Witch.