According to entertainment website Variety, Lionsgate Motion Picture Group president Nathan Kahane announced the new film, which will be penned by screenwriter Seth Grahame-Smith.
Eric Warren Singer had written the previous draft of the script.
It will follow the story of the thieving illusionists known as the Four Horsemen and also introduce a new generation of characters.
The previous films featured Jesse Eisenberg, Woody Harrelson, Isla Fisher, Dave Franco and Morgan Freeman.
“There are three things in this world I absolutely love… Jesse Eisenberg, Woody Harrelson and magic. To have the chance to work with these two talented actors, as well as rest of the incredible cast of the ‘Now You See Me’ movies is a dream come true.
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"I am a lifelong fan of heist movies – I love getting drawn in by the twists and the mystery where nothing is what it seems. And that’s even more true when the thieves are magicians – the opportunities are endless. Eric was able to unlock a fresh and exciting way into a new movie and fun new characters, so I’m excited to dig in even further," Fleischer said in a statement.
Bobby Cohen will produce the upcoming movie alongside Alex Kurtzman of Secret Hideout. Meredith Wieck and Chisom Ude will oversee the project for Lionsgate.
