The third time is the charm for Baba Yaga.

The action series "John Wick" has transformed itself from a surprise hit into a summer blockbuster movie for Lionsgate. The first chapter was released in October 2015 while its sequel came out in February 2017, and now Lionsgate has greenlighted the production and release of the third installment which will come out in May 17, 2019.

Reports have surfaced that Lionsgate gave the go signal to release the third chapter of the Keanu Reeves action hit. Details on the plot have yet to be revealed for the upcoming film. The initial installment follows the life of John Wick, a retired assassin who comes out of his retirement to get revenge on the people who killed his dog which was given to him by his dying wife to remember her by. The sequel finds Wick going up against a cadre of bounty hunters who are looking to cash in the large sum on his head.

In an interview with Collider, director Chad Stahelski said that he's hoping to get the ball rolling on filming late this year or early next year. He further added his intentions to come back at the helm but they are still ironing out the details. He also hinted on expanding the Wick universe, saying "We want, not so much to go bigger on the third one, but to show you more of the intricacies of the world...I'd like to show you the inner workings of different parts of New York."

Derek Kolstad, who handled the writing duties, will be coming back to pen the screenplay for the third installment. Directed by Stahelski and David Leitch, "John Wick" was released in October 2015 and earned $88 million worldwide. The sequel, with Stahelski at the helm, grossed $171 million worldwide upon its release in February of this year.