Halloween is well and truly in the rear view mirror. However, that won't stop us getting a pre-Christmas spook with the news of Hammer Horror forming its own studio.

Variety reports that the label has sealed a deal with the U.K.-based Network Distributing to form Hammer Studios Ltd. The partnership will allow for the restoration of Hammer’s entire back catalogue, as well as the development of new projects.

Hammer is famous for its many 'Frankenstein', 'The Mummy' and 'Dracula' films starring legendary actors like Peter Cushing and Christopher Lee. The films were most prolific from the fifties until the seventies.

Newer films include 2010's vampire remake 'Let Me In' and 2012's 'The Woman in Black' starring Daniel Radcliffe.

Network have restored hundreds of British films including 'Monty Python’s Flying Circus' and 'The Prisoner'. The restorations have made them an important destination for film collectors.

Tim Beddows, managing director at Network said, "This partnership is a really exciting opportunity to merge Hammer’s amazing library with Network’s infrastructure. Whilst we work our way through restoring its entire back catalogue for future generations’ enjoyment, we’re equally excited about the development of new productions from the Hammer canon."

It's exciting times for the label, which was founded nearly a century ago in 1934.