"Now You See Me: The Second Act" is scheduled to be shown in theaters nationwide on June 10, 2016, but despite the film still being months away from its release, Lionsgate has already decided to move ahead with development for a third film in the franchise. 

According to a report by Variety, Lionsgate CEO Jon Feltheimer stated that the studio is already entering the early planning stages for a third film. Given that "Now You See Me" earned a total of $352 million in the worldwide box office, coming off a $75 million budget, and "The Second Act" tracking to earn even more, it comes as no surprise that they'll bank on one more entry. 

The decision only cements Lionsgate's intentions to focus on film franchises instead of one-shot projects. The studio has already seen big success with the "Twilight" franchise as well as with "The Hunger Games" and "Divergent." It is also moving ahead with a sequel to the Keanu Reeves action flick "John Wick." 

Feltheimer also confirmed that the original three of the Four Horsemen, namely Woody Harrelson, Jesse Eisenberg, and Dave Franco, would return. Isla Fisher sits the second film out due to her pregnancy conflicting with the studio's schedule, and is replaced by Lizzy Caplan. Mark Ruffalo, Morgan Freeman, and Michael Caine are also reprising their respective roles. 

As pointed out by a report from Screen Rant, actress Melanie Laurent is the only name missing from the list of returning cast members. The report cites her performance as one of the main highlights in the first film, especially when her relationship with Mark Ruffalo's character and her knowledge about "The Eye" organization are taken into consideration. 

Filling in her shoes for the second film — no confirmation has been given regarding the third film at this point — is Daniel Radcliffe. The "Harry Potter" star will be portraying Walter Tressler, the son of Michael Caine's character. If the character is not killed off in the second film, then there might be a chance he will return for the third installment. 

No release date for "Now You See Me 3" has been officially announced at the time of writing.