A movie that has seen a some buzz recently with the release of a trailer and a festival cameo at Fantastic Fest, The Troll Hunter looks to become the next popular “found footage” film.

Todd Wagner and Dallas Mavericks owner Mark Cuban‘s Magnet Releasing, a division of Magnolia Pictures, has announced today that they have acquired the worldwide release rights (excluding Europe) to the film. The movie tells the story of a group of Norwegian film students who set off to document the existence of trolls, which as it turns out actually exist and have been covered up by the government. What they film is an incredible and massive species, inexplicably hidden for so many years…and they’re not so friendly towards others.

Be sure to click on over to the other side to see one of the trailer that has been released for The Troll Hunter, which looks like the movie could be quite the wild ride.

Others who have ruled the realms of found footage include The Blair Witch Project, Cloverfield, [REC], and Paranormal Activity. And while using this method of filmmaking guarantees the backlash of those who don’t quite “get it,” when done correctly, these found footage movies can be a hell of a lot of fun.

The Troll Hunter is currently aiming for a release sometime in 2011.

Trailer

[Magnet]