EXCLUSIVE: Paramount, which is already making the JJ Abrams-directed Steven Spielberg-produced Super 8, has acquired a spec package for another modestly budgeted extraterrestrial project. This one’s about alien abduction and the plan is to bring it in for about $12 million. And this one has as its producer Michael Bay, who’s currently shooting Transformers 3 for the studio. The deal was made on the basis of a two-minute teaser and a pitch. It will be directed by Bobby Glickert, and produced by Bay and his Platinum Dunes partners Brad Fuller and Andrew Form. They are out to writers to draft Glickert’s story. It’s being called the “Confidential Alien Project”, and it’s said to have things in common with Cloverfield and Paranormal Activity, both of which were shot on the cheap and released by Paramount. WME made the deal.

Glickert gets his first shot behind the camera on a feature after directing two horror shorts, Road to Moloch and The Descendent. He was a PA on Bay’s first Transformers film, and has been assistant to director Fast & Furious the past year and a half. He’s managed by Tariq Merhab.