UPDATE: The guys over at Bloody-Disgusting chatted with franchise creator Don Coscarelli to get the scoop on PHANTASM 5. Here's the filmmaker's response: "I have no solid news to report on a new project now."
That's right folks. Could another entry into the classic PHANTASM franchise be closer than we think? According to the guys over at Dread Central it is!
Apparently DC has been informed by an extremely reliable source that not only is a script for PHANTASM 5 finished, but that it will begin filming this year! Seriously? The site says they're at least 95% sure of this news so I'm going to go ahead and suggest we roll with it! Of course you're going to want to take this with a tiny grain of salt considering it would be classified as 'rumor' for now... but things are looking good!
Considering we haven't heard about this project since August 2009 your guess is as good as mine as to who's directing this thing... or writing it... or even starring in it. Of course once more details start spilling out for PHANTASM 5, if this news holds up, we'll be right here to update you all!