Hammer Lives

According to The Stage the classic UK horror production company, Hammer Film Productions, has been sold to Cyrte Investments. Cyrte plans to invest £25m in new productions for the big screen and television. Since it acquired the Hammer's back catalogue of 300 titles, including Dracula and Frankenstein, it plans to remake these films, possibly in the form of a Hammer TV series.

A statement issued today said: "Hammer will return to film and television production after more than 30 years with an active development programme designed to emulate the best traditions of Hammer.

"The new management plans to aggressively reinvigorate the Hammer brand for a new generation of horror-lovers, utilising web and mobile technologies, whilst retaining Hammer’s significant heritage."

Simon Oakes, who will run Hammer for Cyrte said: "Hammer is a great British brand. We intend to take Hammer back into production and develop its global potential."