10/16/2009 05:12 am ET Updated May 25, 2011

'Bad Boys 3' In The Works

Columbia Pictures is developing a third installment of the high-octane "Bad Boys" franchise, tapping Peter Craig to pen the screenplay.

The hope is to have a script that would reunite director Michael Bay, producer Jerry Bruckheimer and stars Will Smith and Martin Lawrence. At this point, with the project in the early stages, none has a deal to return.

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