The Famitsu website reported on Tuesday that a film adaptation project of Tecmo's Fatal Frame (Zero or Project Zero) horror game franchise will also launch in Hollywood. The franchise has received multiple film adaptation offers since about a decade ago, but Famitsu emphasized that this Hollywood adaptation will start after the current new Fatal Frame project is completed.

Kadokawa unveiled a separate Japanese live-action film earlier on Tuesday. The Japanese film by Bilocation director and writer Mari Asato will open this fall. In August, the Kadokawa Horror Bunko imprint will publish the novel by Eiji Ohtsuka (MPD-Psycho, The Kurosagi Corpse Delivery Service) that inspired Kadokawa's film.
http://www.animenewsnetwork.com/news...l-in-the-works
http://www.famitsu.com/news/201404/22052036.html

If you attempt to search for any other information on this film, it will be for the version Dreamworks attempted to adapt 5 years ago. It is unknown if they currently hold the property or if it went to someone else.