Erebus will finance and produce the films, staring Temple, written by Matt Savelloni, that WWE Studios had already acquired and developed. Principal photography is to begin this summer; a director will be announced shortly.
Temple follows a team of operatives trapped inside an isolated military compound after its artificial intelligence shuts down. While investigating the source of the malfunction, the crew experiences strange phenomena as they attempt to uncover who or what killed the team previously stationed at the compound.
Erebus Pictures’ second feature will go into production later this year. The company will be selling worldwide rights on all its titles.
WWE plans to use its platforms -- weekly TV shows such as Monday Night Raw and SmackDown and the WWE Network -- to market its titles.
"The horror genre continues to fascinate me as it proves to be endlessly thrilling and engaging for audiences," KISS bassist said in a statement.
Simmons most recently executive produced the Alan G. Parker-directed KISS documentary You Wanted the Best. You Got the Best that is expected to be in theaters this year.
Erebus Pictures is named after the Greek primordial deity that personifies darkness.