New `Matrix` trilogy is in development?

Los Angeles: Lana and Andy Wachowski are reportedly working on a new trilogy of action film franchise `Matrix`.The Wachowski siblings are the directors and writers of the first three films. It`s unclear if they will return as the helmers for the upcoming ones. Other details including whether the new films will be sequels or prequels are also unknown. The studio is apparently looking to get the project ready by 2017 to go up against any new installments from other blockbuster franchises developed by rival companies, like "Star Wars" and "Avatar". The first "Matrix" film came out in 1999 to both critical and commercial success followed by "The Matrix Reloaded" in May 2003 and "The Matrix Revolutions" in November the same year. The three films starred Keanu Reeves, Laurence Fishburne, Carrie-Anne Moss, and Hugo Weaving. The Wachowski siblings` next release is sci-fi "Jupiter Ascending" led by Channing Tatum and Mila Kunis.