AceShowbiz -

It's been 9 years since the last installment of "The Ring" came out. "The Ring 3" has been in the works at least for four years, and now it's revealed that the long-delayed project is moving forward with F. Javier Gutierrez tapped to serve behind the lens.

Other details about the third entry are still scarce, but back in 2010 Paramount was eying to make a 3D threequel. Gutierrez made his directorial debut with sci-fi thriller "Tres Dias" ("Before the Fall"). He is also attached to helm "The Crow" remake.

"The Ring" was directed by Gore Verbinski and released in 2002. It raked in nearly $250 million worldwide. "The Ring 2" was made three years later with Hideo Nakata, the director of the original Japanese film, at the helm. It earned less than the first movie, but still a respectable $161 million worldwide. Both films starred Naomi Watts.

Walter Parkes and Laurie MacDonald, the producers of the first two films, are back as producers for third installment. Meanwhile, it's unclear if Watts will reprise her role or not.