Walters Media Group, the recently launched shingle of producer Gary Michael Walters (Drive, Whiplash, Nightcrawler), has acquired the film rights to the creepypasta story The Third Parent.

Deadline reports that producer David Michaels (Surveillance) will make his feature debut as writer and director on the film, based on the story by Elias Witherow.

Set amidst the 4th of July celebration, a disturbing figure named Tommy Taffy emerges, disguising himself as a human to infiltrate a suburban neighborhood and impose authoritarian rule over an unsuspecting family.

“I am thrilled to develop Elias Witherow’s popular horror IP into an intense, scary movie experience,” said Walters. “Tommy Taffy has the potential be the next iconic horror villain, and David Michaels has an incredible vision to bring this property to life.”

“I am honored that Elias and Gary have entrusted me with this incredible story and character. I have been captivated by Tommy Taffy and The Third Parent series for many years,” added Michaels. “It’s a dream come true.”

Originating on Reddit’s NoSleep subreddit, Witherow’s The Third Parent saga now spans several short stories and a novel.