Dimension Films has snapped up US and all English-speaking rightsto Intellectual Properties Worldwide (IPW), Atmosphere EntertainmentMM/Relativity Media and Wild Bunch's horror project Piranha.

Negotiations are underway for Chuck Russell to direct from ascreenplay he adapted from Joe Dante's 1978 cult classic.

In Russell's version a series of earth tremors unleashes a schoolof ancient razor-toothed fish on holidaymakers at Lake Havasu in Arizona.

The screenplay combines elements from drafts by Josh Stolberg andPeter Goldfinger and the original screenplay by John Sayles based on a story byRichard Robertson.

Atmosphere's Mark Canton and IPW's Marc Toberoff are producing,and Atmosphere's Steve Barnett, IPW's J Todd Harris, Relativity's RyanKavanaugh, Wild Bunch's Vincent Maraval and Chako Film's Chako VanLeeuwen areserving as executive producers.

Atmosphere and IPW will oversee the production. Relativity ishandling the financing and distribution arrangements, including banking,equity, gap and related financial matters.

Wild Bunch financed the development of the film, is acting as theinternational sales agent and will distribute in certain European territories.

Toberoff and his production chief Harris assembled the rights,developed the screenplay and brought the package to Canton and Atmosphereproduction chief Barnett.

Dimension's production head Richard Saperstein and senior vicepresident of production Matthew Stein brought the project to The WeinsteinCompany and will oversee on behalf of Dimension Films.

Barry Littman,executive vice president of business and legal affairs for The WeinsteinCompany, negotiated the distribution deal on behalf of Dimension Films.Kavanaugh negotiated on behalf of Atmosphere, IPW and Wild Bunch.