Lionsgate has created a unique brand of heist movie with "Now You See Me" franchise, which centered a group of magicians who led double lives as secret criminal masterminds.
A third installment has been in development for years, but has never officially gotten off the ground, until now.
Lionsgate has announced that they have officially greenlit the threequel, with production slated to begin in the first half of 2024.
Lionsgate Motion Picture Group Chair Joe Drake made the announcement during the studio's recent investor call, confirming that Ruben Fleischer was onboard to direct the project.
"We reimagined Now You See Me with Ruben Fleischer, who is an absolute master at shepherding franchises," Drake said. "If you think he did Venom and Uncharted, [we] couldn't be happier about that. That's going to start in the spring."
Drake didn't specify what portion of the project was starting next spring, but given that it has been in development for years, this likely means that filming is near.
While the road to the screen has been a long one for the threequel, it is unsurprising that Lionsgate has been pushing forward all these years given the success of the first two installments.
The franchise followed the Four Horsemen, a group of magicians who use their powers of sleight-of-hand, mentalism, and escapism to perform heists during their magic shows.
The first two installments starred an ensemble cast of Jessie Eisenberg, Woody Harrelson, Morgan Freeman, Mark Ruffalo, Isla Fisher, Dave Franco, Lizzy Caplan, Daniel Radcliffe, and more.
No casting or plot details have been announced, so it is unclear if anyone from the first two films will be returning — though the fact that Drake described the third installment as a "reimagining" could leave the door open for the movie to go in a different direction.
The first two films brought in nearly $700 million combined globally, so Lionsgate went all-in on expanding the franchise.
News of development on a third movie was first reported in 2015 - before the second installment had even been released.
John M. Chu, who had directed the second movie, was initially tapped to direct again, but development slowed on the project for years until Chu was eventually replaced by Fleischer in 2022.
Even after this change, though, there was almost no movement on the film until this recent announcement from Drake, largely due to concerns over skyrocketing costs to make a third installment.
At the time of Flesicher's hiring, Bobby Cohen and Secret Hideout's Alex Kurtzman, who produced the first two films, were slated to return.
Seth Grahame-Smith was also onboard to write the film's script, though his current involvement is unclear.
No release window for Now You See Me 3 has been announced.
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