BOOOOOOOOOOOOOOOOYYYYYYYYYYYYYY does Ain't it Cool News have news for once. In what seems to be a dream - BUT IT'S NOT - the website with the design aestetic of an AOL Free Trial disk is reporting that Phantasm V: Ravager is in development. Even further, Bloody Disgusting reports that Don Cosacreli is directing with the Tall Man himself, Angus Scrimm, and Reggie Bannister reprising their respective roles. No word if Michael Baldwin or Bill Thornbury will also be back, but then again neither character was looking good in the previous entry: Phantasm IV: Oblivion. More news is to be expected in the coming days (though if this is an April Fool's Joke, this is the cruelest one there is), but other than that, that's all we have. Oh, and this sweet poster (courtesy of AICN):
Whenever there's more news on this (if it's fake or please let this be real) we'll let you know. Just know this series just continues to prove... IT'S NEVER OVER!!!!
UPDATE: So Phantasm Archives (as per what Bloody Disgusting says, but they don't mention this fact in their article) brings more clarification in the fact that Don Cosacrelli isn't directing Phantasm V: Ravager, but supervising it. David Hartman will be writing and directing the feature, which supposedly has been filmed bit by bit beginning in 2008. They also mention that the regular cast members (no actual names but it does sound like Reggie Bannister is back as Reggie) and regulars who've worked in previous Don Cosacrelli movies will also be showing up in this one.
One cast member from the Phantasm franchise has come forward to say that they're in the movie. Kat Lester, who played the Lady in Lavender in the original Phantasm (1979) and Phantasm III: Lord of the Dead (1994), posted this via her Facebook:
The character of the Lady in Lavender has appeared in all odd numbered Phantasm movies and to say any more would spoil her real identity in the film series. If we learn of anymore updates we'll let you know.