There’s something strange in the neighborhood. Who you gonna call? Jason Reitman!

It looks like the long awaited Ghostbusters 3 is finally going to happen as it was announced that it will be a “passing of the torch” from father to son as Jason, the son of original Ghostbusters director Ivan Reitman, will be co-writing and directing the official third installment of the franchise.

The new film is not counting the 2016 reboot, which featured the all-star female ensemble of Kristen Wiig, Kate McKinnon, Melissa McCarthy and Leslie Jones in the roles of the busters due to its poor performance at the box office upon its release in 2016. The new film is set to be connected to the original 1984 and 1989 films in the franchise.

It is unclear at this time whether original cast members Bill Murray, Dan Aykroyd, and Ernie Hudson would return to their original roles. Harold Ramis, who played Egon Spengler, passed away in 2014. However, rumors are swirling that Reitman has been testing teens for four mystery roles. Could these be a new generation of “busters” with perhaps the possibility of one of the original group returning as a mentor? Right now, it is all speculation and until something is officially announced, then nothing more can be said.

What is confirmed however, is that both Ivan Reitman is producing the film and that Ghostbusters 3 has a set release time of Summer 2020 from Sony Pictures.

H/T: Variety

UPDATE: Sony has unveiled a teaser trailer to the new film, check it out below: