Jonathan Rhys Myers is in advanced talks to board the $25m Shelter and will play a demonic preacher who threatens the daughter of a skeptical psychiatrist played by Julianne Moore.
Mans Marlin and Bjorn Stein are set to begin filming in Pennsylvania in late March.
Oren Peli's micro-budget shocker Paranormal Activity has stirred up huge interest from buyers all week and tells of a couple's misguided attempt to film spooky nocturnal events in their home.
In two further deals, Icon took UK and Australian rights from ContentFilm International to the genre title Splinter and bought four Ghost House Pictures titles from Mandate International.
The Ghost House deal includes UK and Australian rights to The Grudge 3, Boogeyman 3, The Messengers 2 and Rise 2 except for Australian rights to The Grudge 3, which are held by Village Roadshow.
Icon handled Ghost House's vampire saga 30 Days Of Night in the UK late last year and delivered the biggest gross outside of North America with approximately $9.3m (£4.5m).