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The third installment of the V/H/S trilogy, V/H/S: VIRAL, was officially acquired by distribution studio Magnet. To commemorate the acquisition of the film’s US rights, a trailer for the film was released. For those unfamiliar with the V/H/S films, they consist of an anthology of short films directed by various directors linked together by notorious VHS tapes. As seen in the VIRAL trailer, the first two films are summarized nicely, featuring clips from both V/H/S and V/H/S-2.

V/H/S: VIRAL is about internet-obsessed teenagers who are desperate to create a viral video. Unbeknownst to them, they become the latest victims of the V/H/S craze. The directors attached to VIRAL are Nacho Vigalondo (Extraterrestrial), Todd Lincoln (The Apparition), Marcel Sarmiento (ABC’s of Death), Gregg Bishop (Dance of the Dead), and Justin Benson (Wrecked).

You can read the full press release for V/H/S: VIRAL below.

New York (May 13, 2014) ­ The Wagner/Cuban Company’s Magnet Releasing, genre arm of Magnolia Pictures, announced today that they have acquired US rights to V/H/S: VIRAL, the third installment of the popular horror anthology series. V/H/S: VIRAL features segments from directors Nacho Vigalondo (TimecrimesExtraterrestrial), Marcel Sarmiento (ABCs of Death segment “D is for Dogfight”), Gregg Bishop (The Birds of Anger), Justin Benson (Wrecked) and Todd Lincoln (The Apparition). Gary Binkow and Brad Miska produced for Collective Digital Studio and Bloody Disgusting, marking the third collaboration with Magnet on the V/H/S films.

V/H/S: VIRAL’s segments include the story of a deranged illusionist who obtains a magical object of great power, a homemade machine that opens a door to a parallel world, teenage skaters that unwillingly become targets of a Mexican death cult ritual, and a sinister, shadowy organization that is tracking a serial killer. The segments are tied together by the story of a group of fame-obsessed teens following a violent car chase in LA that unwittingly become stars of the next internet sensation.

“V/H/S: VIRAL has the strength of its predecessors and continues to break new ground in the genre,” said Magnolia President Eamonn Bowles. “This installment features terrific work from some very talented genre filmmakers.”

“We’re really excited for audiences to experience the evolution of the VHS brand – and the evolution of male monster genitalia,” said Binkow.

The deal was negotiated by Magnet SVP of Acquisitions Dori Begley with Gary Binkow of Collective Digital Studio. Magnet is eyeing a fall release.