It may sound like a cruel joke, but according to Screen Daily, it’s the truth. There’s a Donnie Darko sequel in the works, and a U.K. company called Velvet Octopus will reportedly be shopping around the rights at Cannes. The movie is apparently called S. Darko, and will focus on Donnie’s younger sister Samantha seven years later. Daviegh Chase has already signed on to reprise her role, and will be joined by Ed Westwick, Briana Evigan and Justin Chatwin. None of the other original cast members are expected to make an appearance.

Now before you make any accusations about Richard Kelly returning to the well after the poor reception of Southland Tales, know this: he’s actually not involved at all. Nope, if this news story is to be believed, S. Darko is a complete cash-in on the name and success of the first film. I don’t know how these people were able to land the rights to the “Darko” franchise, as it were, but I think I’m not alone when I say it sounds completely false and ludicrous. Kurt over at Row Three is dead on with his comparison to Blair Witch 2: The Book of Shadows. This just has “bad idea” written all over it. Thoughts?