'47 METERS DOWN' THREEQUEL ‘THE WRECK' LAUNCHING AT CANNES MARKET FOR BYRON ALLEN, TEA SHOP & FILMNATION; PATRICK LUSSIER TO DIRECT JOHANNES ROBERTS & PATRICK RIERA'S SCRIPT

EXCLUSIVE: Shark in the water! The third installment in the hit shark thriller franchise 47 Meters Down is launching at the Cannes market.

Series creator Johannes Roberts, and screenwriter Ernest Riera, who wrote the first two films, have co-written the third installment: 47 Meters Down: The Wreck. Veteran horror director Patrick Lussier (My Bloody Valentine) will direct. FilmNation, the sales agent on the franchise's second installment, 47 Meters Down: Uncaged, is returning to launch worldwide sales in Cannes.

The story will follow a father who is determined to rebuild his relationship with his daughter as they bond during a scuba diving in beautiful tropical waters while exploring a famous shipwreck. But soon after their descent, their master diver has an accident leaving them alone and unprotected inside the labyrinth of the wreck. As tensions rise and oxygen dwindles, the pair must use their newfound bond to escape the wreck and the relentless barrage of bloodthirsty great white sharks.

Production is being lined up for the fall with casting discussions underway. Byron Allen's Allen Media Group Motion Pictures (AMGMP) and James Harris and Mark Lane's Tea Shop Productions are behind the project, which Roberts says will be the “biggest” in the franchise. Producers are James Harris, Mark Lane, and Johannes Roberts. Executive producers are Byron Allen, Carolyn Folks, Jennifer Lucas, Chris Charalambous and Matthew Signer.

Byron Allen released the previous movie in the U.S. but a domestic buyer has yet to be set.

The first film took $62M theatrically off a small budget while the second made $47M, also off a considerably smaller budget.

47 Meters Down: The Wreck is the perfect continuation of our shark-filled franchise," said Byron Allen, founder/chairman/CEO of Allen Media Group. "This film will once again have moviegoers terrified and on the edge of their seats."

“We can't wait for audiences to be trapped underwater with us again," added filmmaker Johannes Roberts. “47 Meters Down: The Wreck is going to be the biggest, most-intense film of this franchise.”

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