The film is the next installment of the loosely connected "Cloverfield" series, reported Variety.
The story is set in the near future and centers on a team of astronauts on a space station making a terrifying discovery that challenges all they know about the fabric of reality.
Paramount previously made a deal with Netflix in December for the streaming service to handle the international release of Natalie Portman's horror-thriller "Annihilation.
Disclaimer: No Business Standard Journalist was involved in creation of this content