Get Ready for "Bad Boys 3" 

Columbia Pictures has hired Peter Craig to write the script for the third installment of the "Bad Boys" franchise.

The studio would like to bring back the original players together -- director Michael Bay, producer Jerry Bruckheimer, and stars Will Smith and Martin Lawrence -- if the price is right.

In 1995, the first "Bad Boys" was released signaling Smith's foray as an action star and Bay as a stylish maestro. The film grossed $66 million nationwide and $141 million worldwide.

The sequel, released in 2003, grossed $138 million domestically and $273 million worldwide.

Everyone involved has expressed interest in returning to the franchise IF there's a good story. But it's to early to tell whether Smith will return as Mike Lowrey and Lawrence as Marcus Burnett -- two Miami detectives who seemed to face never ending car chases and explosions!

But Craig may come up with a great script. He co-wrote "The Town" which Ben Affleck is directing for Warner Bros., and Craig is also adapting the anime "Cowboy Bebop" for 20th Century Fox and Keanu Reeves.

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