Michael De Luca and Pam Abdy – co chairs and co-CEOs of Warner Bros. Motion Pictures Group, took the stage at CinemaCon at a potential crossroads for the storied studio, whose parent has a deal to sell itself to Paramount.

Paramount Pictures has acquired the rights to a new feature set in the "Longlegs" universe. Osgood Perkins will pen the script, direct, and produce, and Nicolas Cage will star and produce. Details are being kept under wraps,