"Tron 3" is moving into production after five years of development. Reports from VancityBuzz stated that Walt Disney Pictures has greenlit the sequel and that it is set to begin shooting in Vancouver this Oct. 5. 

This report from VanCityBuzz marks the first official statement that the film has been given the go signal. No other details have been released and there has been no confirmation on who penned the screenplay that Disney accepted to take into production. But according to sources over at BadAssDigest, "Tron: Legacy" director Joseph Kosinski will be returning to helm the third film in the franchise. 

The third "Tron" film has been rumored to be in development since "Legacy" came out in theaters, but no news came out until it was confirmed back in December 2012. The second film barely made a profit (earning $400 million worldwide from a $170 million budget) and doubts about the series' future circulated around the movie blogosphere. However, Kosinski confirmed in an April 2013 interview that the film was still going to be made but it was in the very early stages of development. 

"Tron: Legacy" saw the return of Flynn (Jeff Bridges) and the titular character Tron (Bruce Boxleitner) as well as the introduction of new characters played by Garret Hedlund and Olivia Wilde. From the original cast, only Hedlund has been confirmed to reprise his role in the third movie. Boxleitner has not made any statement denying or confirming his involvement in the film. 

Other than "Tron: Legacy," Kosinski is known for directing the Tom Cruise flick "Oblivion" and several popular ads for video games such as the award-winning commercial "Mad World" for the action series "Gears of War." Meanwhile, Hedlund will make an appearance in the 2015 film "Pan," portraying a younger Captain Hook in an adventure that explores the origins of Peter Pan.