The "G.I. Joe" franchise that everyone thought has been quietly decommissioned is not dead yet, after all.

Paramount confirmed on Monday that the dormant action series' third installment is set for release on March 27, 2020, seven years after "G.I. Joe: Retaliation" debuted in 2013 and 11 years after the prequel "G.I. Joe: Rise of the Cobra" premiered in 2009.

There is no word if any of the previous cast members like Channing Tatum, Dwayne Johnson, Adrianne Palicki, and Bruce Willis, among others have signed on to reprise their roles. However, one thing is certain: "G.I. Joe 3" would be using a different approach -- "one that still resonates with 'Joe' fans but brings in an uninitiated audience and expands the audience internationally and domestically," according to Hasbro Studios head, Chief Content Officer Stephen Davis.

If all goes according to plan, the "G.I. Joe" franchise will kick off a shared cinematic universe as other Hasbro properties, such as like "ROM," "Micronauts," "Visionaries," and "M.A.S.K" (Mobile Armored Strike Kommand).

Alongside "G.I. Joe 3's" confirmation, Paramount also announced three other films including fellow toy-to-film adaptation "Micronauts," set for release on Oct. 16, 2020, and an untitled Hasbro film for Oct. 1. 2021. The studio is also giving the "Stranger Things" kids play, "Dungeons & Dragons," another chance at the big screen.

New Line Cinema previously adapted the game with the Courtney Solomon-helmed feature of the same name. Unfortunately, it was a flop financially and critically, only generating $33.8 million at the box office against its $45 million budget.

Hasbro found incredible success after dusting off its '80s action figure line "Transformers" and turned it into a movie. It spawned four sequels, and even though every entry does not perform well compared to the predecessors, the franchise is still a money-making machine. "Transformers: The Last Knight," for example, generated $605.4 million when it premiered earlier this year. That is the lowest out of all the "Transformers" installments to date, but is still nearly triple its $217 budget.