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EXCLUSIVE: Jason Bourne is coming back. Universal Pictures has begun making deals with Matt Damon and director Paul Greengrass to reunite for their third film in The Bourne Identity series, sources tell me. This is an absolute stunner—and Universal would not comment nor would the reps—because Greengrass told Deadline as recently as last year that once the Bourne character regained his memory–that search formed the spine for the trilogy Damon starred in–there was no place else for the character to go creatively.

Well, they’ve figured it out. I’m told that the studio is so bullish on this that the intention is to make the re-team the next Bourne film to go into production to make the July 16, 2016 release slot that Universal had previously assigned to an untitled Bourne film. That would mean it would step in front of the spinoff sequel that is to reprise Jeremy Renner and be directed by Fast & Furious architect Justin Lin. That film, which began with the Tony Gilroy-directed The Bourne Legacy, remains in development. I thought that its premise—Renner plays one of several genetically altered assassins, all of whom are targeted for death—was smart and satisfying on its own. Universal intends to continue that series and to broaden its franchise base, much the way that Marvel cranks out superhero films. The Bourne Legacy was a good start to a new franchise, but Jason Bourne is a hard act to follow. Now, franchise hungry Universal has both of them. Lin can probably use the time, as he signed on to direct the second season of the HBO series True Detective.

I saw The Equalizer as it premiered in Toronto, and it reminded me of The Bourne Identity, in that both are sophisticated adult thriller franchises where the protagonists are capable of high action exploits, but they are not running around in spandex. Even though I could not get corroboration, I am confident enough to say that, probably very soon these deals will all be done and that fans will be pretty happy to have Bourne back.

Both Damon and Greengrass are perpetually busy. Damon next stars for Ridley Scott in The Martian, and Greengrass has several project percolating, most recently circling at Fox The Ballad of Richard Jewell, the story of the security guard at the Atlanta Olympics who uncovered a suspicious backpack and cleared the crowd away from a park before it exploded, only to be vilified as a possible terrorist in the advent of the 24 hour news cycle. Leonardo DiCaprio and Jonah Hill are going to star in that one, and Captain Phillips’ scribe Billy Ray has penned the script. Damon’s repped by WME, Greengrass by CAA.

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Let's hope Matt Damon and Jeremy Renner don't bump into each other at a restaurant.

In re-engaging with Universal to return to the Jason Bourne franchise with director Paul Greengrass after their contentious exit following 2007's The Bourne Ultimatum, Damon has put in jeopardy a planned follow-up to 2012's The Bourne Legacy that is set to star Renner and be directed by Justin Lin for a 2016 release.

Several sources say that if deals and a story idea can be worked out with Damon, 43, and Greengrass, 59 — no small feat considering both bailed over Greengrass' creative issues — Universal will proceed with a Bourne reunion and put the Renner reboot follow-up on the back burner. Greengrass and longtime editor Christopher Rouse are said to have settled on a strong concept that would return Damon to his most lucrative role. But it's unclear if Greengrass will prioritize writing and directing the Bourne project as Fox is deciding whether it will greenlight his planned movie about accused Olympics bomber Richard Jewell, starring Leonardo DiCaprio and Jonah Hill.

Universal declined comment on the status of the Bourne franchise, but Frank Marshall, a producer on all the films, tells The Hollywood Reporter that the project starring Renner, 43, isn't dead. "That movie is moving forward," insists Marshall. "It's still in development. We're working to get a script as soon as possible." Marshall adds that because there are no deals with Damon or Greengrass, the strategy is to proceed with both projects simultaneously.

Damon's return for a fourth Bourne likely would be a boost for him and for the franchise. His third outing grossed $442.8 million worldwide and generated strong reviews, while the reboot starring Renner as a new character inhabiting the universe of the Robert Ludlum novels grossed a strong but not spectacular $276.1 million worldwide. Damon's recent films, including the 2013 sci-fi actioner Elysium, have failed to match either of those numbers.

Greengrass, who had a critical and commercial hit with last fall's Captain Phillips, and Damon are said to have mulled a return to Bourne for at least a year, with Greengrass feeling a particular ownership over the direction of the franchise he inherited for two films after Doug Liman's 2002 hit The Bourne Identity. Damon has said that he would only do another Bourne film if Greengrass directs.

But as with everything in Hollywood, studio politics could be in play. Greengrass has been negotiating to direct the Jewell picture, but sources say Fox's Jim Gianopulos has been deciding whether it's ready for a green light. That has lead to speculation that Greengrass' camp could be floating the Bourne return to force Fox's hand — or at least nudge Fox toward a decision. Greengrass also is developing several other projects.

Adding to the intrigue, Stacey Snider, who is in line to move from DreamWorks CEO to a big role at Fox later this year, has a great relationship with Greengrass (she also made his United 93 when she was at Universal) and presumably would want to have Greengrass' next film after Captain Phillips — if it's still in play when she arrives at the studio. Fox and Snider declined to comment.

The result is uncertainty over whether either project will be ready for the July 2016 release date Universal has staked out for an untitled Bourne movie. From Star Wars to Spider-Man to Universal's own monsters library, studios increasingly are trying to turn their franchises into "universes" that can support multiple standalone movies focusing on different characters. So perhaps a Damon-fronted Bourne movie can co-exist or even benefit from a separate movie starring Renner. Or Universal might choose to sideline its Renner movie to focus on the star and director that have delivered the most success.

Marshall, for one, thinks it's a win-win situation because he'll either have one or two Bourne movies in the pipeline. "We're on two tracks," he says. "And if this one [with Damon and Greengrass] comes together, great, but they're still just talking."

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Matt Damon Confirms He's Reprising His Role as Jason Bourne

And you thought Matt Damon was done with the Bourne franchise!

After reports surfaced this summer claiming that the Hollywood star would not be reprising his role as Jason Bourne, it appears Damon has changed his mind.

E! News caught up with the actor and his close friend Ben Affleck Friday night as they celebrated season four of their resurrected passion project, Project Greenlight.

In between talking about their HBO series and their impressive muscles, Affleck (accidently?) revealed a big casting announcement.

"Well, [Damon's] going to be doing a Bourne movie next fall when I've just completely lost any semblance of physical fitness. So….," Affleck told E! News exclusively.

Did Affleck just say what we think he said? Oh yes, he did!

"Yes, next year," Damon responded to E! News when asked for clarification. "It'll be in 2016 when the movie will actually come out. [Director] Paul Greengrass is going to do another one and that's all I ever said. I just needed him to say yes."

There you have it, folks! Damon and Greengrass are reuniting for their third collaboration in the Bourne universe and the fifth film in the series overall. The big-screen hit, which has earned millions at the box office, was originally inspired by the novel series written by the late Robert Ludlum.

Late last year, fans received some tough news from Greengrass who revealed he had no interest in directing another Bourne movie.

"In the end I felt I had given it my all in two films I'm very proud of and didn't want to make another if I didn't believe it could be as good if not better," he told Deadline. "I couldn't come up with an idea, and the business reality of franchises is that when a studio has a Bourne, they're obliged to make one every couple of years. I discovered in my heart I didn't have another one in me."

He added, "The best thing was to move on, have someone else come in and make their mark on it."

Lucky for movie fans, there's nothing wrong with having a change of heart in Hollywood. Let the Bourne series continue!

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