The search has begun for a new director to take on Tony Stark's cinematic adventures, as Vulture reports that Jon Favreau will not be returning to direct Iron Man 3

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Favreau informed Marvel Studios of his decision this week, though Vulture says it's unclear whether his decision was financial, creative or both. Vulture cites an informed source as saying Favreau was frustrated with Marvel wanting to include more and more of their characters into the Iron Man series, especially in the wake of Iron Man's role in The Avengers However, Vulture says Favreau may have simply been too expensive for Marvel at this point, as they and their parent company, Disney, look to find ways to cut costs – noting that Favreau is said to have made $10 million for Iron Man 2 and would almost certainly get another sizable raise for Iron Man 3 to as much as $15 million, along with receiving 15 percent of the film's gross after it recouped costs. In fact, Vulture says that one of their sources familiar with "Marvel's playbook" theorizes that the company, "had been pushing a confusing and packed vision of the third film as a tactic to provoke Favreau into leaving the project."According to Vulture, Marvel began quietly searching for a new director as of last night. However, they note whoever is picked will have to be okayed by Robert Downey Jr ., who has contractual approval over the director of the film.Favreau may not be making Iron Man 3 for Disney (which purchased distribution rights for Avengers and IM3 back from Paramount recently), but he will still be working for the company – as he prepares to direct the Disneyland inspired Magic Kingdom , after completing work on Cowboys & Aliens In the meantime, Downey Jr. will get back in the Iron Man armor when he films The Avengers for director Joss Whedon next year, for a 2012 release date. Iron Man 3 is scheduled to be released May 3, 2013.Now here's the big question: Will Favreau still appear in Iron Man 3 as Happy Hogan Both a Marvel source as well as Jon Favreau himself have confirmed the news. Favreau tweeted , "It's true, I'm directing Magic Kingdom, not Iron Man 3. I've had a great run with Marvel and wish them the best."