He once brought the CAT PEOPLE to the screen, and now writer/director Paul Schrader (pictured) has come aboard the latest in the swarm of shark sagas.

Variety reports that Schrader has assumed the helm of the independent project BAIT (which we first reported on here), taking over from Jonas Pate. He’s also polishing Bret Easton Ellis’ screenplay, in which a group of students are held hostage in shark-infested waters by a crazy woman. That’s some high-profile talent attached to the project, which is no relation to Kimble Rendall’s upcoming 3D shark shocker BAIT, and is being produced by Braxton Pope, Matthew Perniciaro, Kevin Mann and Jesus Martinez Asencio.

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