Paramount has chosen Ehren Kruger, the co-writer of "Top Gun: Maverick," to develop a script for a sequel. They are also looking to bring back the director, Joseph Kosinski, for another installment. The potential sequel could feature returning actors Miles Teller and Glen Powell. Talks about the new script started in late 2023, but final approval from Tom Cruise and others is still pending. Paramount declined to comment on the matter.

Recent news, initially reported by Puck, follows Tom Cruise's announcement of a non-exclusive deal with Warner Bros. The deal allows him to create franchises and original movies for Warner Bros., the studio where he worked on films like "Interview With the Vampire," "Eyes Wide Shut," "Magnolia," and "Edge of Tomorrow." Despite the deal, Cruise can still collaborate with other studios like Paramount and Universal. He is currently involved in a costly project with Universal, which will be filmed at the International Space Station. Additionally, the agreement provides office space for Cruise's company on Warner's Burbank lot.

Paramount Global, the parent company of the studio, is in the news and seems to be up for sale. Skydance Media, the producer of "Top Gun: Maverick," is said to be exploring the possibility of acquiring National Amusements, the holding company that has control over Paramount Global.

Top Gun 3 in the works at Paramount

"Top Gun: Maverick" was a major success for Paramount, marking a triumphant return for Tom Cruise to his iconic role. The film, nominated for an Oscar for Best Picture, earned nearly $1.5 billion, becoming Cruise's most successful movie to date. Cruise is also the driving force behind the "Mission: Impossible" franchise at Paramount and is presently involved in the production of the eighth installment in the spy series.