Because James Cameron needs more money? Paramount announced today that TITANIC will be digitally restored so that it can be shown in digital 3D on the big screen. The restored TITANIC will be re-released on April 6, 2012, which will mark the 100th anniversary of the ill-fated ship setting sail on April 10, 1912.

I'm sorry, what? It's a bit too early for totally insane news, so I'll leave you to the full press release for more on this baffling combination of so many strange things - Hollywood's new obsession with 3D, the re-release of a beloved film (at least it's not being remade), and the lingering wonder of just how much money James Cameron will make from this. Check out the full press release after the break.

HOLLYWOOD, CA (May 19, 2011) - Paramount Pictures, Twentieth Century Fox and Lightstorm Entertainment jointly announced today that James Cameron’s “TITANIC” will be re-released worldwide on April 6, 2012.

The release, which marks the 100th anniversary of the Titanic setting sail (April 10th), will present the film in 3D for the first time ever.

Written, directed and produced by Cameron, “TITANIC” is the second highest grossing movie of all time. It is one of only three films to have received a record 11 Academy Awards including Best Picture and Best Director; and launched the careers of stars Leonardo DiCaprio and Kate Winslet.

Called “A spectacular demonstration of what modern technology can contribute to dramatic storytelling” by Variety upon its release in 1997, the long in the works 3D conversion is being overseen by Cameron and his Lightstorm producing partner Jon Landau who produced the hit movie.

Said Cameron, "There's a whole generation that's never seen ‘TITANIC’ as it was meant to be seen, on the big screen. And this will be ‘TITANIC’ as you've never seen it before, digitally re-mastered at 4K and painstakingly converted to 3D. With the emotional power intact and the images more powerful than ever, this will be an epic experience for fans and newcomers alike."

“This new presentation of Paramount’s top-grossing film is particularly special because 2012 is the 100th anniversary of our studio. Paramount has had the pleasure of introducing audiences to some of the all-time classics of cinema during that century of moviemaking and we cannot think of a better way to mark the occasion than with this re-release of ‘TITANIC’,” said Brad Grey, Chairman and CEO of Paramount Pictures.

Commented Fox Filmed Entertainment Chairmen and CEOs, Jim Gianopulos and Tom Rothman: “Our 30-plus year relationship with Jim Cameron and Lightstorm has been enormously rewarding, from ‘Aliens’ to ‘Avatar’, and the global phenomenon of ‘TITANIC’ remains one of the greatest sources of pride in our history. We are pleased to allow a new generation of audiences to experience the film in its brilliant digital restoration in 3D.”

Despite all my hemming and hawing, of course I will see this in theaters, but I do expect to be overwhelmed and somewhat nauseated after four hours of being subjected to giant, restored 3D of a famous tragedy.

Source Press Release