Wendy Mitchell
October 25, 2009 AT 06:16 PM EDT

With low-budget horror hit Paranormal Activity now at the top of the box office, Paramount is eyeing a sequel, the Los Angeles Times reports. “We have the rights on a worldwide basis to do Paranormal 2 and we’re looking to see if that makes some sense,” Paramount Chairman Brad Grey told the Times. The horror film, made for just $15,000 and acquired by Paramount for $300,000, has made $62.5 million so far and industry players expect it to cross $100 million.

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