'Guardians of the Galaxy Vol 3' script in works: James Gunn

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Los Angeles:  Writer-director James Gunn has confirmed that the script for the third installment of the film franchise "Guardians of the Galaxy" is being penned.

The 51-year-old filmmaker said he is also helping Marvel Studios head Kevin Feige in tracing the future of the Cinematic Universe's cosmic properties, according to The Hollywood Reporter.

"Those scripts are already in the works. Kevin and I talk about it all the time; we just had a meeting today. Discussing what is the next iteration of cosmic characters and where are the characters that we've already created going to go in the next batch of films," Gunn told Heat Vision.

The announcement comes months after the release of "Guardians of the Galaxy Vol 2", which featured actors Chris Pratt, Zoe Saldana, Bradley Cooper, Dave Bautista and Vin Diesel, among others.