Bruce Willis’ Red 3 Already in the WorksSummit 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.

Red is a series of American action comedy films inspired by the limited comic-book series of the same name created by Warren Ellis and Cully Hamner, and published by the DC Comics imprint Homage. The film stars Bruce Willis, Morgan Freeman, John Malkovich, Mary-Louise Parker, Helen Mirren, and Karl Urban with German film director Robert Schwentke directing a screenplay by brothers Jon and Erich Hoeber.

In the film version, the title is derived from the designation of the status of agent Frank Moses (Willis), meaning “Retired, Extremely Dangerous“. The first film, Red, was released on October 15, 2010. A sequel, Red 2, was released on July 19, 2013. In May 2013, Lionsgate re-signed Jon Hoeber and Erich Hoeber to write a third installment.

In August 2015, NBC announced that they were developing a Red television series with the Hoeber brothers, Lorenzo di Bonaventura, and Mark Vahradian