One year-old LA-basedproduction and financing outfit The Mayhem Project has signed Chile's JorgeOlguin to direct horror film Clock Tower, based on the bestselling video game franchise from Japan's Capcom.

The film, which is scheduledto go into production later this year, has been written by Jake Wade Wall (WhenA Stranger Calls, The Hitcher) andTodd Farmer (Jason X). The storyinvolves a young woman who receives a disturbing phone call from her estrangedmother warning her not to come home. When she investigates, she uncovers aterrible supernatural secret from her past.

The Mayhem Project willproduce and finance the film. The company's chairman and CEO Anthony Mosawi andpresident of production Brad Luff will produce; Tim Kwok is executive producer.Mayhem executive Jennifer Rogers will supervise the film for the company.

Olguin will direct ClockTower after he has completed TheCall Of The Sea which is executive producedby Guillermo Del Toro; del Toro first discovered Olguin when he saw Olguin'ssecond feature Sangre Eterna(2002) set in the world of a vampire role-playing game. Olguin's first featurewas Angel Negro in 2000.

"We believe that Jorge is anincredibly talented young director," said Mosawi. "We were bowled over by hisvisual presentations for Clock Tower."

Backed by two UK-based hedgefunds, Mayhem opened its doors in June of last year with the goal of producingand financing high concept genre films. Mosawi was formerly COO at Mutual FilmCo and before that a production attorney at Paramount Pictures; Luff previouslyworked as president of production at Morgan Creek and as executive vicepresident at Original Film.

The deal was negotiated byAnthony Mosawi and attorney Bob Wyman of Wyman Isaacs for The Mayhem Project.Chris Sablan of Original Artists, Dave Brown of BenderSpink and Stephen Clarkof Lichter Grossman represented the deal for Olguin.