Cruise control: 'Top Gun 3' officially in the works

If you still feel the need for speed, Paramount Pictures has good news for you -- "Top Gun 3" is officially happening, with Tom Cruise back as daring pilot Pete "Maverick" Mitchell.

The announcement came Thursday at the studio's showcase at CinemaCon, an annual week-long summit at which Hollywood studios present their biggest upcoming movies to theater owners and press.

Paramount film co-head Josh Greenstein said "Top Gun 3" was "officially in development with a script well underway," adding that Cruise would reunite with producer Jerry Bruckheimer on the project.

The original 1986 film helped propel Cruise to superstardom, and the 2022 sequel earned $1.5 billion worldwide.

Legendary director Steven Spielberg publicly credited Cruise with helping to get moviegoers back into theaters after the Covid-19 pandemic with the long-awaited sequel.

Cruise was not present at the presentation, but did narrate a film used to open the event, which focused on the studio's commitment to releasing films on the big screen.

At the end, Cruise -- sitting atop the water tower on the studio's lot -- says, "The future looks great from here."

Paramount Skydance chief David Ellison told attendees that the studio would guarantee a 45-day theatrical release window for its films before moving them to streaming platforms.

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"Once we combine with Warner Brothers, we're going to make a minimum of 30 films annually," Ellison said in a pledge to theater owners. "Long live the movies."

Paramount has launched a massive $111 billion bid to take over Warner Bros, topping a rival bid from Netflix.

But many in Hollywood fear the mega-merger will lead to cuts that will forever change the film industry.

Also on Paramount's upcoming slate is a film adaptation of the popular video game "Call of Duty," due in theaters in June 2028.

Attendees also saw early footage from "Heart of the Beast," a thriller starring Brad Pitt as a military veteran who must survive a plane crash in Alaska with his combat dog.

And Johnny Depp showed up to offer a preview of "Ebenezer: A Christmas Carol," the latest adaptation of the classic Charles Dickens tale, in which he plays the grumpy Scrooge.

CinemaCon continues later Thursday with Disney's presentation.

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