'G.I. Joe 3' is a planned addition to the popular cinematic franchise based on the Hasbro toy line of the same name. Paramount Pictures revealed that it has created a partnership with Hasbro to create a shared cinematic universe among its various toy lines. Akiva Goldsman is also tasked to oversee a new writers' room for the G.I. Joe/Micronauts franchise.

According to Collider, Paramount Pictures planned to create a shared and interconnected cinematic universe between Hasbro toy lines G.I. Joe, Micronauts, M.A.S.K., Visionaries and ROM. Paramount and Hasbro assembled a writers' room to develop potential storylines for the films with Akiva Goldsman headlining the team.

Goldman's success with the 'Transformers' writers' room led to at least three more possible sequels in the science-fiction franchise in the next ten years, according to /Film. His new task is to oversee another writers' room for the reinvigoration of the GI Joe/Micronauts franchise.

Director Jon. M Chu, who helmed the 2013 release 'G.I. Joe: Retaliation', was previously attached to return for a second time in the rebooted series but eventually dropped out of the planned project for unknown reasons. D.J. Caruso of 'Disturbia' fame was approached as a replacement but no official confirmation has been made as of the present.

According to The Hollywood Reporter, Paramount chairman and CEO Brad Grey announced the new partnership with Hasbro saying, "Paramount and Hasbro have had a longstanding relationship, and we're proud of the success we've enjoyed on the Transformers and G.I. Joe franchises... We're excited to grow our agreement and make even more movies based upon these popular and powerful Hasbro characters and their worlds."

Hasbro's chairman, president and CEO Brian Goldner said that the new interconnected universe will expand on each franchise's stories. Goldner added, "Extending our partnership with Paramount allows us to continue our long-term strategy and overall vision to build dynamic worlds for all of our brands, and we are thrilled to collaborate with them as we develop these properties."

'G.I. Joe 3' is an upcoming military science-fiction film based on Habros' popular toy line of the same name. It is intended as the third film in the rebooted franchise following 2009's 'G.I. Joe: Rise of the Cobra' and 2013's 'G.I. Joe: Retaliation'. Its predecessor earned $375 million against a $130 million budget, according to Box Office Mojo.