AceShowbiz -

Riding high on the success of "Saw III" which has garnered $33.6 million during its three-days run, Lionsgate as the franchise's production company is reportedly planning to set up its follow-up, "Saw IV", with an aim to also release it by Halloween next year.

No details yet on the cast, writer, director, and plot, but the story presumably will still deal with the elaborate, bloody games that psycho killer Jigsaw schemes neatly to test the moral fiber of his victims.

Turning the "Saw" franchise into an annual ritual with quickly produced sequels each Halloween, Lionsgate so far has received a tremendous profit from the two previous installment, the first scoring over $55 million and the second collecting more than $87 million in domestic market only.