This is all rumor until we get The Tall Man's balls in our faces.
PHANTASM 5 FULLY FINANCED AND FILMING THIS YEAR…..PROBABLY
I know I heard that script for years, how great it was. It really wasn't great and that ending was so unsatisfying. I mean really to have a franchise for that length of time and it ends like every other phantasm movie.
We had Angus Scrimm as a guest for our Phantasm screening last year. Dude was older than old. He couldn't get around without a handler. I don't see how he could possibly play the Tall Man again.
Not to mention the fact that, outside of a couple VERY SHORT dream sequences, Mike isn't even in the movie!!!
No Jody either, if I'm remembering right. Reggie and The Tall Man are the only true returning characters, with only Reggie really being a main role. It is an extremely shitty Aliens-clone with a douchebag version of Apone as the second lead. It is a terrible fanfic-esque script. I suspect that many people who used to tout it as a great unmade film had never actually read it and just simply ASSUMED it was awesome due to the Pulp Fiction connection.
Phantasm's End struck me as the kind of script a studio would commission if they snapped up the rights for the franchise. It is an absolute travesty that it actually came from a supposed fan writing it on spec.