The video for Michael Jackson's Thriller may be one of the most fondly remembered music videos of all time, but can the song become a successful horror movie? If Twilight studio Summit Entertainment has anything to say about it, yes...

According to Deadline, Summit is just one of many studios (Also including Fox 2000 and Lionsgate) involved in plans to spin a movie out of Jackson's 1984 hit, with The Hangover's Jeremy Garelick writing and former Jackson choreographer Kenny Ortega directing. The site reports that the movie, which will have a budget somewhere under $50 million, will be based on the song's folklore, and that songwriter Rod Temperton is part of the team involved in translating the song to screen. Maybe Bill Hader can handle the Vincent Price voiceover...