Hammer Film Productions, known for it gothic horror fare of the 1950s and '60s, was sold Thursday for an undisclosed sum to a group led by Holland-based Cyrte Investments, the investment vehicle for Dutch media mogul John de Mol, the Western Mail said Friday.

De Mol and his group said they had about $50 million available to re-start production. The team said it would target "a new generation of horror lovers" through Web and mobile technologies.

Simon Oakes, a member of the new management team, said the deal has been in the works for about a year. "Hammer is a great British brand and we intend to take Hammer back into production and develop its global potential," Oakes said.