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For "The Blair Witch Project" sequel, lightning couldn't strike twice. Ten years later, however, Paramount is proving it's possible to go from micro-budget to mega-profitable with "Paranormal Activity 2" looking to stretch its legs in its second frame.
This weekend should be telling as the film goes up against the last planned sequel of Lionsgate's highly successful "Saw" series--raising speculation that "Paranormal" could become the next boffo horror franchise.
Studios have long invested in big-budget franchises, both on the live-action and animated fronts, to boost overall profitability by appealing to audiences on a worldwide …