'Now You See Me 3' production, plot: Jon M. Chu confirmed to direct the third installment

There have been earlier reports that indicate the development of "Now You See Me 3" has been underway. Main cast members are expected to reprise their roles, and they are anticipated to return for the third movie along with director Jon M. Chu.

'Now You See Me 3' production updates: Lionsgate brings sequel director back for 3rd movie

It was apparent that the success of the first installment in 2013 made a great impression on the executives of Lionsgate. The production company confirmed in 2015 that it had started the early planning for "Now You See Me 3" -- the sequel only premiered in June 2016.

The sequel's box office gross sales ($334.9 million) were a little lower than the first movie's numbers ($351.7 million). However, it could still be deemed a success noting that the second movie's reported budget was around $75 million. It was then not shocking that updates on the production of "Now You See Me 3" continued to get published throughout 2016.

Earlier that year, it was reported that Chu and Lionsgate reached an agreement that will bring him back to direct "Now You See Me 3." By November 2016, reports were rife that the company had signed Neil Widener and Gavin James to work on the third movie's script. The writer duo is best known for their work on the "Battle of Alcatraz" that they have sold to Paramount.

Unfortunately, that was where the "Now You See Me 3" updates stopped. To this day, Lionsgate, Chu, and any of the cast members have yet to confirm how the production is coming along and when the movie would be released.

'Now You See Me 3' plot predictions: Four Horsemen would still be together

The second movie opened with a major change of players as Isla Fisher's Henley Reeves left the Four Horsemen off-screen. The character was, however, replaced by Lula May (Lizzy Caplan), whose personality and magic expertise fit the needs of the group based on the sequel's grand heist. The latest lineup of Four Horsemen, along with their leader Dylan Shrike (Mark Ruffalo), is expected to return in "Now You See Me 3" as well.

Just like the first movie, though, the sequel's plot was completed by the end of the movie. However, fans were left with a hint that there is so much more to learn about the Eye. This could then be a sufficient starting point for the storyline in "Now You See Me 3." However, nothing has been said yet about the third movie's plot.