Italy’s storied Titanus studio, producers of myriad golden era Cinema Italiano works, is getting a reboot and reviving its production side with several projects in development, including a contemporary sequel of Dario Argento’s supernatural chiller “Phenomena.” Established in 1904 by Gustavo Lombardo, Titanus was a true Italian major, which during the 1960s forged a partnership with MGM. They slowed down considerably from the mid-1960s onwards after Luchino Visconti’s lavish Sicily-set costumer “The Leopard” (1963), starring Burt Lancaster, Claudia Cardinale and Alain Delon, went way over budget. Since the mid-1980s the studio’s output has been on a much smaller scale, and...