New Line Cinema is in final negotiations with filmmaker Don Coscarelli to bring the cult horror film "Phantasm" back to the big screen. Coscarelli said three elements made the franchise stand out in the horror field: the Tall Man, played by Angus Scrimm, the spheres and the setting. Back in New Line's early days, company founder Bob Shaye made an unsuccessful bid for "Phantasm," which ultimately was released by Avco Embassy.

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