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'John Wick 5' in the Works With Keanu Reeves, Director Chad Stahelski

The news comes as Lionsgate's spinoff film 'Ballerina' is set to hit theaters this summer.

Lionsgate Motion Picture Group chair Adam Fogelson announced at CinemaCon on Tuesday that the studio is in development for a fifth installment in the action film franchise. “Keanu, Chad, Basil and Erica would not return unless they had something truly phenomenal and fresh to say with these characters and this world,” Fogelson said about the franchise that has collected more than $1 billion at the worldwide box office. Spinoff film Ballerina hits theaters June 6, while new series John Wick: Under the High Table is in development from executive producers Stahelski and Reeves.

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