Exclusive: After relaunching its film division last October, Castle Rock Entertainment has set a first project out of the gate that will have a familiar ring. It’s Spinal Tap II, a sequel to the fabled rock mockumentary that set the film company on a run of hits, many of them directed by Rob Reiner. He made his directorial debut on the 1984 cult classic This Is Spinal Tap.

Reiner will direct the sequel and return as filmmaker Marty Dibergi. Also back are David St. Hubbins (Michael McKean), Derek Smalls (Harry Shearer), and Nigel Tufnel (Christopher Guest), the nucleus of England’s loudest and sauciest heavy metal band.

The package comes after the Cannes Film Festival announced the original will screen on the beach as part of the Cinema de la Plage sidebar on Wednesday, May 18th. The film was released to critical acclaim in 1984. In 2002, it was deemed “culturally, historically,...