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Summit Entertainment released the first “RED” movie, starring Bruce Willis, Karl Urban, Morgan Freeman, John Malkovich and Helen Mirren, back in 2010. It went on to gross $200 million worldwide on a budget of $58 million.
Soon after, the studio announced that it’s working on a sequel, which is now set to hit theaters on July 19th. But even though “RED 2″ has yet to be released, Summit just announced that it has started work on “RED 3.”
While deals with the actors have yet to be made, screenwriters Jon and Erich Hoeber (RED, RED 2) have just been hired to begin writing the third installment. Production could start as early as January of 2014. [Source]