Hot off the heels of a stellar sequel, Paranormal Activity creator Oren Peli spilled the release date of the next movie in the series.  Paramount confirms October 21, 2011 is the day.  The original had a production budget set at $15,000 and generated nearly $197 million.  The sequel’s budget was upped to $3 million following the original’s success, and so far it has generated a worldwide gross of around $157 million–and it’s still in theatres. Greenlighting a three-quel is a no-brainer.  And with the Saw franchise (supposedly) out of the way, nothing’s stopping PA from raking in the cash next Halloween.  That is, of course, if Hollywood doesn’t find a worthy horror flick to pit against it.

[Via ComingSoon; TheNumbers, here & here]