Blair Witch 3???

A screenplay is currently be written for a 3rd Blair Witch movie. Now not much has been said for this project but a few ideas are being tossed around. One being that it will take place in a 1930's or earlier time era with grainy looking film which sounds awesome. I personally wasen't a fan of the second movie but the first played its part and scared me before I found out it was fake. With that being said I am very interested to see what happens with this movie...