Update: Jeff Sneider at The Wrap reports that Lord and Miller have turned down the Ghostbusters 3 directing job. No potential next choice has been reported, but expect that news to come out shortly. There’s always the chance that they could yet be lured into the franchise, but at this point it seems like the job is open.

Hearing LORD & MILLER ended up walking away from GHOSTBUSTERS 3 job. They were the studio's choice but wanted to keep their options open… — Jeff Sneider (@TheInSneider) April 7, 2014

Original story follows.

Ghostbusters 3 was dealt another big blow this week when director Ivan Reitman decided to step down. But now, not only is it getting back on track, it sounds more promising than ever. According to a new report, Lego Movie helmers Phil Lord and Chris Miller are in talks to direct the long-gestating sequel. Hit the jump for all the latest details on the project.

Nikki Finke got the info from her sources.

https://twitter.com/nikkifinke/status/446565326428188672

If anyone can make Ghostbusters 3 work, it’s these two. Turning unpromising-on-paper concepts into critically acclaimed, commercially successful pictures is kind of their thing. They did it with Cloudy With a Chance of Meatballs (based on a picture book), 21 Jump Street (a comic reboot of an ’80s drama), and The Lego Movie (a feature-length toy ad).

Ghostbusters 3‘s combination of action and comedy seems like a great fit for their talents, and the franchise’s goofy sense of humor seems to be right up their alley. Plus, they already have a long and productive history with the studio. Sony has released all of their movies to date, aside from The Lego Movie.

The timing looks good, too. Lord and Miller are just putting the finishing touches on 22 Jump Street, which opens in June, and have not yet announced what their next project will be. Should they decide to do Ghostbusters, they can move straight into that. As of earlier this week, Reitman was saying that he hoped to start production in New York by early 2015.

Even if they sign on, though, the movie has several steps to go before it hits theaters. The film already has a script by Etan Cohen that Reitman says is “very good, that the studio is very excited about,” but should Lord and Miller sign on they’ll likely want to tweak it to suit their own style. There’s also the matter of casting. Many young stars have been rumored over the years, but none are actually attached at this point.